Third of clients have switched wealth managers in last 24 months

The specialist in research services for wealth mangers said this level of investor switching amounted to an increase of 20 percentage points in the last three years. It also found a further half (48%) of wealth management clients were unsure or likely to switch managers in the next 12 months. Furthermore, of the 1,000 investors it surveyed online, Compeer found more than one-third (36%) said they were likely to switch wealth manager if they found the same service for a lower fee, while to prompt them to switch, respondents said they would on average require a 22% reduction in charges. ...