Even more important, 80% of the 419 respondents are satisfied with their advisor in general and 84% are satisfied with their advisor's knowledge and expertise in finances. The ultra-high-net-worth investors are the most satisfied with their advisors at 80%, with investors with $1 million to $5 million following at 76% and the mass affluent giving high marks to their advisors 66% of the time, according to the survey.
Honesty and trustworthiness topped the list of desired characteristics in an advisor, with those qualities considered the most important by 99% of respondents, even above a good investment track record, which came in second.
-Karen DeMasters
On The Move
Lazard Wealth Management announced that James Le Rose has joined the firm's New York office as senior relationship manager. Previously, Le Rose was senior client account manager and New York team leader at Bessemer Trust Company.
BNY Mellon has two new hires. Susan Traver was appointed president of the company's recently opened Washington D.C. wealth management office. Previously regional managing director for Wells Fargo Private Bank, Travers has over 25 years of experience serving high-net-worth individuals and families in the Washington region. The firm's wealth management business has appointed Penny Weeks to be regional director of private banking for New England. Previously senior vice president and private banking team leader at Northern Trust, Weeks will be based in Boston.
JHS Capital Advisors welcomes a new team of wealth managers from Osterville, Mass. The team, previously with RBC Wealth Management, is led by Alfred Schofield, branch director, vice president and chartered retirement planning counselor. Dennis Cambal and Geoff Cambal are senior vice presidents and Tom Cypoliski and John Sargent are vice presidents. With about $250 million in assets under management, the Osterville team offers full-service wealth management with a special focus on retirement income strategies.
CONCERT Global Group has appointed Ron Hunt and Lou Barbaccia to its board of directors. Hunt is president of Hunt Wealth Management and is also managing director of CONCERT's Walnut Creek, Calif. office. Barbaccia is managing general partner of Encina Investment Group, which is headquartered in Campbell, Calif.
Laird Norton Tyee has announced two promotions. Susan Talton has been promoted to client advisor and leads the firm's elder planning group. Dana Rekow has been promoted to the newly created position of managing director of client services.
Baker Tilly Investment Advisors has announced two appointments in their Milwaukee, Wis. office. Jay Czarapata has been hired as a senior investment advisor representative in the firms' individual wealth management practice and Laura Barry has been promoted to managing director.