Wealth managers shifting gears

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The credit crisis and volatile stock market are taking a toll on the relationship between wealthy clients, those with at least $1 million to invest, and their investment managers. A recent survey by Prince Associates of high-net worth individuals found that 80 percent of respondents plan to take money away from their big-bank wealth advisors. But it does not stop there. Nearly 86 percent say they would not even recommend the firm to others.Conway Gittens reports.

Tags: credit crisis, stock market, wealthy clients

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