High net worth investors feel dissatisfied

Among the report's additional findings:

• Over three-quarters of financial advisors believe that their financial advisor-client relationship has evolved into more of a coaching or educational role;
• Financial advisors who focus on well-defined target markets report 2.4x-to-3.5x greater profitability per client;
• Only one-third of financial advisors consistently implement workflow processes;
• Only 41 percent of financial advisors document all major CRM processes;
• One-third of financial advisors believe that technology will be the primary force that drives industry innovation
• Baby boomers account for over 50 percent of full-service brokers' clients, but it varies on an individual financial advisor level;
• Assets held by consumers over 60 years old have nearly doubled since 2001 to $4.6 trillion in 2005;
• Consumers households have $23 trillion in investable assets, an increase of over 40 percent since 2002, but a decrease of almost 20 percent since 2007;
• Consumer household investable assets net flows have decreased to negative $516 billion, a decrease of almost $1.0 trillion since 2003;
• Currently consumer assets that are being draw down for retirement are nearly $2 trillion which is expected to increase to $7.3 trillion by the time all baby boomers are retired in 2029;
• Mutual funds' consumer household penetration is 44 percent, down 12 percent from 2002's penetration;
• There are 290 open-end mutual fund assets under management are over $12 trillion, up 86 percent since 2002;
• Open-end mutual funds' $12.4 trillion assets under management includes $7.7 trillion in stock funds, $1.7 trillion in bond funds, and $2.9 trillion in money market funds;
• Stock mutual funds assets under management have topped $7 trillion, up almost 100 percent since the 2000 peak;
• Bond mutual funds assets under management growth has been steady, reaching $1.6 trillion in 2007, up 100% since 2000;
• Consumer households have $3.8 trillion in traditional IRA accounts, an increase of 65 percent since 2002;
• Consumer households have $219 billion in SEP & SAR-SEP IRA accounts, an increase of over 80 percent since 2002;
• Consumer households have $178 billion in Roth IRA accounts, an increase of over 200 percent since 1998;
• Consumer households have $51 billion in simple IRA accounts, an increase of over 1,000 percent since 1998;
• Fee-only financial advisor clients are almost equally split between small and medium size business owners, corporate executives, and professional occupations.