Trust and human connection key drivers of satisfaction with HNW advice
News & Insights
News & Insights
17/09/2025
New research from Praemium and CoreData underscores the enduring importance of professional, personalised advice for Australia’s high-net-worth investors, despite an era increasingly captivated by artificial intelligence, digital tools, and do-it-yourself solutions. While technology and unprecedented access to information offer convenience, the findings reveal that trusted expertise remains critical for navigating complexity and achieving meaningful outcomes.
Key findings from the study:
Trust is paramount: 36% of HNW investors rank trust as the single most important factor in their adviser relationship, ahead of investment performance (22%) and strategic advice (13%).
Holistic, long-term planning is highly valued: 54% say a key benefit of working with an adviser is help with planning for the long-term future, while 49% value an adviser’s ability to understand their whole wealth situation.
Personalised guidance drives satisfaction: Investors appreciate advisers who help them make informed decisions (38%), understand their life goals and family needs (34%), and integrate wealth strategies across family members (34%).
Face-to-face matters: 42% of HNW investors prefer in-person meetings with their adviser, and half want to hear from their adviser monthly, demonstrating the ongoing importance of personal connection and regular engagement.
Life events are a key trigger: 70% of respondents sought advice due to major life events such as retirement, family changes, or planning for intergenerational wealth transfer.
Despite high satisfaction, the research also points to areas for improvement, particularly around transparency of fees and the need for regular, meaningful communication.
In an era where AI and digital tools are becoming more prevalent, it is the human element of advice that remains irreplaceable. Advisers who focus on building trust through personal relationships and supporting the full spectrum of holistic advice, covering tax optimisation, intergenerational wealth, family dynamics, and long-term planning, are best placed to build loyal, satisfied client bases.
Denis Orrock, Chief Strategy Officer at Praemium, comments: “The research reinforces that the most valued advisers are those who deliver a truly high-touch, personalised service that focuses on the whole picture. These advisers help clients navigate not just investments, but family, legacy, and life’s big transitions. Technology can’t replace the human element in providing financial advice, but it can help you find the time for those meaningful conversations investors really value. That’s why platforms like Praemium focus on driving efficiencies in administration and portfolio management, freeing advisers to dedicate more time to where it matters most. By providing reporting and engagement tools that enable truly holistic advice, we can supports advisers to build deeper relationships and deliver the high-touch service clients expect.”