- 65 percent state it's extremely or very important that their investments measure progress toward personal and/or financial goals, rather than just performance.
- 88 percent assert their GBI approach is extremely or very effective in meeting their objectives.
- 94 percent believe their financial advisors use a GBI approach.
Taking it DigitalLooking to the digital world with a significant dependence on technology, 69 percent of respondents said it is extremely or very important that their financial advisor use and/or provide the latest technologies. With two-thirds expecting the ability to interact with their advisors remotely, only 29 percent said that service is provided by their advisors. Additionally, more than half (51 percent) require the ability to track and measure progress toward goals themselves, while 43 percent said it is provided.Ranking the greatest technological benefits, 29 percent and 28 percent of survey participants asserted technology helps them make better decisions and be more self-sufficient, respectively. More than a third utilizes a robo-advisor to help manage their investments. "There's growing reliance on financial services technology, which supports consumers' need for transparency in wealth management," said Farrell. "Transparency is integral to employ a true goals-based strategy because it provides clients the ability to hold their advisors accountable. Technology gives them a front-row seat to monitor their investments and align their wealth with their goals." MethodologyThe SEI digital survey was conducted among 300 ultra-high-net-worth individuals. Survey respondents included those who use a financial advisor exclusively (44 percent), those who take a do-it-yourself approach (24 percent), and those who use a hybrid method (32 percent), employing a combination of the two. About SEI Private Wealth ManagementSEI Private Wealth Management helps individuals and families build and execute wealth management strategies based on their unique goals. By leading clients through our proprietary discovery process, SEI helps them identify, articulate and prioritize goals; track financial resources; and organize those resources against their stated goals. SEI tracks clients' progress towards their goals so they are empowered to make effective and impactful decisions around their wealth. As of March 31, 2017, SEI Private Wealth Management has assets under advisement of $1.9 billion. SEI Private Wealth Management is an umbrella name for various wealth advisory services provided by SEI Investments Management Corporation (SIMC). SIMC is a subsidiary of SEI. For more information about SEI Private Wealth Management, visit seic.com/privatewealth. About SEISEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of March 31, 2017, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $779 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $297 billion in assets under management and $478 billion in client assets under administration. For more information, visit seic.com.
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