A third of those using a wealth manager say they are considering switching their provider, with higher net worth clients more likely to change.
Netwealth, a challenger wealth manager launched in 2016, surveyed 1000 investors with at least £50,000 in investible assets, finding that poor investment returns and high fees were the most common factors cited by those looking to shift providers.
High net worth clients were more likely to be dissatisfied than those with lower investible assets: 44 percent of those with at least £1 million in investable assets were considering a change, compared with 26 percent who had between...