NU Online News Service, Jan. 22, 4:20 p.m. – What wealthy clients want and what their asset managers think they want are often two different things, according to Andersen Inc., New York.

Researchers for the firm surveyed 289 individuals with more than $1 million in investable assets and 270 of their asset managers.

Among the findings: 68% of asset managers said that they believed wealthy clients were becoming more conservative in their choice of investment opportunities, yet 62% of their wealthy clients said their risk appetites had either stayed the same (52%) or increased (10%) in the past 12 months.

The researchers also found that only 29% of the asset managers said clients expected them to have expert knowledge, but 39% of the wealthy individuals said they did expect their asset managers to have expert knowledge.