Client-centric wealth management firms address all such questions clearly, directly, and thoughtfully. And they answer the question(s) asked (rather than those the firm wants to answer).

The survey polled 1,000 wealth management clients between April 20 and May 1. All of the clients had at least $500,000 of investable assets, Littlechild said.

Some of the latest digital wealth management services use advanced algorithms to offer clients fully managed portfolios — sometimes called “ready-made portfolios” — where asset allocation ...