Millionaires Prefer Personal Trainers and Therapists Over Wealth Advisors, Survey Finds
A recent CNBC survey of high‑net‑worth individuals shows a growing gap between the services that millionaires value and those they trust with their finances. While traditional wealth managers and accountants remain essential, the poll indicates that personal trainers and therapists are now rated higher in importance than financial advisers. The findings reflect a broader shift toward holistic well‑being among affluent consumers.
The questionnaire, conducted online in early 2024, sampled 1,200 adults with net assets of at least $1 million across the United States and Canada. Only about one‑third of respondents reported being satisfied with their current wealth advisors, whereas roughly 68 percent said they placed greater trust in their personal trainers, and 62 percent valued their therapists for managing stress and decision‑making.
Respondents cited high fees, limited personal interaction, and a perceived focus on product sales rather than tailored advice as primary reasons for the low satisfaction scores. Many also expressed concern that wealth managers were slow to adapt to rapid market changes, leaving clients feeling vulnerable during periods of volatility.
In contrast, personal trainers and therapists were praised for offering tangible, immediate benefits. Clients highlighted regular fitness sessions as a means to maintain discipline, while therapeutic support was credited with improving mental clarity, reducing anxiety, and enhancing overall decision‑making capacity—qualities deemed crucial for managing sizable portfolios.
Industry analysts note that the trend underscores a growing demand for integrated service models that combine financial planning with health and wellness coaching. Some wealth firms have begun partnering with fitness centers and mental‑health providers to offer bundled packages, arguing that a healthier client base is more likely to achieve long‑term financial goals.
Experts predict that the convergence of finance and well‑being services will accelerate as affluent individuals increasingly view health as a component of wealth preservation. For advisors, the challenge will be to demonstrate value beyond traditional asset management, incorporating personalized, holistic strategies that resonate with clients’ broader lifestyle priorities.
