Clients Think "Goals-Based Investing" Equals Performance
Many advisors use a goals-based investing approach, where success involves progress towards a specific life goal, such as funding retirement. And while 94 percent of ultra high net worth investors believe their financial advisors use a goals-based approach, these investors are confused about what that approach entails. A recent survey by SEI found that over half (56 percent) of advisor-exclusive investors define goals-based investing as a measure of performance. "There is a strong disconnect between consumers' intended investment purpose and their understanding of how to achieve those goals over the long-term," said Jeff Ladouceur, director of SEI Private Wealth Management. "If investors do not understand goals-based investing themselves, how can they be sure their financial advisors are using that approach when managing their wealth?" To conduct the study, SEI surveyed 300 UHNW individuals.
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