3,588 retail investors and 976 institutional investors from 15 markets worldwide were surveyed. Participants ranged in age from 25 years to over 65 years old.
Respondents could select up to three items.
The majority of participants came from the U.S. (500 survey participants).
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Main reason to leave investment advisor/asset managers worldwide 2020-2022
The most common reason retail investors would consider leaving their adviser or asset manager is underperformance, according to a survey from 2021. The share of retail investors, who are working with advisers, who stated this to be the most likely reason was ** percent. The other main reasons were that fees are too high, data or confidentiality breach, lack of communication, or lack of responsiveness.
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CFA Institute. (April 18, 2022). Main reasons retail investors would consider leaving their adviser/asset manager worldwide from 2020 and 2022 [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved August 02, 2026, from /statistics/1228727/reason-to-leave-advisor-asset-managers-among-investors-worldwide/
CFA Institute. "Main reasons retail investors would consider leaving their adviser/asset manager worldwide from 2020 and 2022." Chart. April 18, 2022. ÌÇÐÄÆƽâ°æ. Accessed August 02, 2026. /statistics/1228727/reason-to-leave-advisor-asset-managers-among-investors-worldwide/
CFA Institute. (2022). Main reasons retail investors would consider leaving their adviser/asset manager worldwide from 2020 and 2022. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: August 02, 2026. /statistics/1228727/reason-to-leave-advisor-asset-managers-among-investors-worldwide/
CFA Institute. "Main Reasons Retail Investors Would Consider Leaving Their Adviser/Asset Manager Worldwide from 2020 and 2022." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 18 Apr 2022, /statistics/1228727/reason-to-leave-advisor-asset-managers-among-investors-worldwide/
CFA Institute, Main reasons retail investors would consider leaving their adviser/asset manager worldwide from 2020 and 2022 ÌÇÐÄÆƽâ°æ, /statistics/1228727/reason-to-leave-advisor-asset-managers-among-investors-worldwide/ (last visited August 02, 2026)
Main reasons retail investors would consider leaving their adviser/asset manager worldwide from 2020 and 2022 [Graph], CFA Institute, April 18, 2022. [Online]. Available: /statistics/1228727/reason-to-leave-advisor-asset-managers-among-investors-worldwide/
