Search for...

The Role Of Financial Advisors In HNWI’s Investment Decisions

The Role Of Financial Advisors In HNWI’s Investment Decisions, TheRecursive.com
~

As the number and financial influence of High-Net-Worth Individuals (HNWIs) in Central and Eastern Europe continues to rise (as seen in the previous section), so does the demand for more sophisticated financial advisory. 

Our latest report dives deep into this evolving ecosystem—examining how a HNWI in CEE choose their advisors, allocate capital, and structure portfolios for the future. It is based on an in-depth survey with wealth and asset managers from across the region.

The project is supported by ROCA Investments and Vertik Group, together with a group of strategic partners: Innotechnics, CEE Wealth Summit, FBN Bulgaria, FBN Hungary, Endeavor, VC Leaders, ROPEA,  Bulgarian Angels Club, BVCA, CVCA, 0100 Conferences, Money Motion and Growceanu.

The final conclusions are being released in stages, focusing on different sides of the private capital landscape:

The Role Of Financial Advisors In HNWI’s Investment Decisions, TheRecursive.com

The rise of professional guidance

Nearly 43% of HNWI in CEE work with investment consultants, while more than a third use private banks. A growing number are adopting more structured approaches: 14.3% use multi-family offices, and 5.4% have established their own single-family offices.

This shift reflects a broader trend: high-net-worth individuals in the region are seeking not just returns, but long-term security, discretion, and bespoke solutions. Whether they engage an asset manager to build portfolios or a wealth manager to plan for succession and tax, the demand for holistic, expert-led strategies is clear.

What advisors actually do

The report draws a distinction between asset and wealth managers. The former focus on returns—constructing and managing portfolios based on financial goals and market data. The latter go further, integrating investment planning with estate structuring, tax optimization, philanthropy, and family governance.

According to our data, the most commonly provided services are portfolio management (96.8%), strategic advisory (90.3%), and tax/legal support (83.9%).

Read more:  How a Seasoned Investor Sees the Future of Risk Capital in CEE

The Role Of Financial Advisors In HNWI’s Investment Decisions, TheRecursive.com

CEE HNWI rely on a mix of local expertise and global reach. Independent investment consultants bring deep knowledge of regional opportunities—from real estate and public markets to crypto and private equity. Global firms, meanwhile, offer access to international markets and estate planning tools. Alternative investment funds are also gaining ground, giving clients exposure to venture capital, private equity, and hybrid portfolios.

How advisors build their clients portfolios

As seen in the previous section of the report, the majority of wealth in CEE is self-made. Over 80% of the financial advisors  surveyed say that their clients  generated capital through their own businesses, and more than half have a net worth above €5 million. Most prefer to keep their portfolios in the region (93.5%), but diversification is increasing—especially into North America and Western Europe.

The Role Of Financial Advisors In HNWI’s Investment Decisions, TheRecursive.com

When it comes to strategy, capital growth, diversification, and preservation top the list. Stocks and bonds remain staples, while private equity and real estate feature prominently in nearly 60% of portfolios. Venture capital is gaining traction, but interest remains mixed.

The Role Of Financial Advisors In HNWI’s Investment Decisions, TheRecursive.com

Most important in the HNWI – advisor collaboration

Ultimately, trust is the foundation of the advisor-client relationship. Many HNWIs grant full discretion to their advisors, and expect not just technical know-how, but proactive guidance and discretion. Advisors who communicate clearly, anticipate needs, and act with integrity tend to build the longest-lasting relationships.

Technology is also reshaping the space—generative AI, real-time dashboards, and automation are helping advisors deliver faster, smarter service. But even in a digital age, clients still value a human touch.

Want to dive deeper into the numbers, quotes, and insights?

Download the report to discover how a new generation of investors is influencing the future of the region’s capital markets.

The Role Of Financial Advisors In HNWI’s Investment Decisions, TheRecursive.com

Help us grow the emerging innovation hubs in Central and Eastern Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the CEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍

https://therecursive.com/author/elenaghinita/

Elena is a Startup Community Editor at The Recursive. In other words, she keeps close to the startup ecosystem in CEE and makes their stories heard. She creates educational and informational content about innovation, funding and startup growth.