Praemium chief strategy officer Denis Orrock said the findings confirm that human connection remains central to effective advice.
“The research reinforces that the most valued advisers are those who deliver a truly high-touch, personalised service that focuses on the whole picture,” he said.
Trust emerged as the defining element of the adviser–client relationship, with 36 per cent of HNW investors ranking it as their most important consideration. This outweighed investment performance at 22 per cent and strategic advice at 13 per cent.
According to Orrock, this emphasis on trust reflects the multidimensional nature of client needs.
“These advisers help clients navigate not just investments, but family, legacy, and life’s big transitions,” he said.
Holistic planning also remains a key driver of value. The research found that 54 per cent of respondents view long-term planning as a major benefit of working with an adviser, while 49 per cent value having an adviser who understands their full wealth position.
Investors also pointed to personalised decision support (38 per cent), advisers’ awareness of life goals and family needs (34 per cent), and coordinated strategies across family members (34 per cent) as central to satisfaction.
Despite expanding digital capability, many HNW investors still prioritise interpersonal engagement. The data shows 42 per cent prefer face-to-face meetings, and half want monthly communication from their adviser.
Orrock noted that while technology is becoming more prominent, its most effective use is in supporting, not replacing, the human component.
“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,” he said.
He added that this is why platforms are designed to reduce administrative friction.
“By providing reporting and engagement tools that enable truly holistic advice, we can support advisers to build deeper relationships and deliver the high-touch service clients expect,” Orrock said.
Broadly, trust in advisers among clients – high-net-worth or otherwise – remains strong, with research conducted by the Financial Advice Association Australia’s (FAAA) finding advised Australians enjoy high levels of confidence, despite market uncertainty.
“It’s been a tough year. Cost-of-living pressures are still very real, and while inflation has eased a bit, economic uncertainty and global events continue to weigh on household confidence,” FAAA chief executive Sarah Abood said.
“But even with all that, the indicators we track around the value of advice continue to show the positive impact of financial advice.”
