Facebook Twitter LinkedIn
Register for our daily updates!

Featured Advisor

Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

Click to see the full profile

Share |

Asset Management: Yes or No

Asset Management services include banking, investing and brokerage services.

| BY Kent McDill

Approximately one-quarter of affluent investors have an Asset Management account, which handles banking, investing and brokerage services, according to a survey by Spectrem’s Millionaire corner.

Defined as a “single account provided by a brokerage firm or bank which includes banking, investing and brokerage services”, the Millionaire Corner survey asked more than 1,000 affluent investors whether they have such an account and 26 percent said “Yes”. Segmented by age and wealth, 45 percent of investors with a net worth greater than $5 million (Not Including Primary Residence), said they had an asset management account, while only 13 percent of investors with a net worth between $100,000 and $500,000 did.

Almost half of all corporate executives had an asset management account, as did 44 percent of business owners.

Those investors with an asset management account were asked to consider the importance of that account and place it on a sliding scale from “0” (No Value) to “100” (Great Value) and the investors as a whole placed the value at 67.55, but the wealthier investors placed the importance at 71.30, and indicated that the asset management accounts do matter to the account holders.

However, asked if they were choosing a new brokerage or investment service provider, how important it would be (on a sliding scale) for the provider to offer an asset management account, the investors pegged their preference at below the mid-range point, at 41.69. Even the high net worth investors only put it at 44.34, again below the mid-range point.

The investors who had an asset management account were then asked what they would do if that account was eliminated. Forty-one percent said they would stay with their current provider and use other products or services offered to make up for the asset management account. Thirty-one percent said they would find another service provider that offered an asset management account.

Twenty-seven percent of all investors said they would find those services somewhere, whether from their current provider or from another provider.



About the Author

Kent McDill


Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.