A growing number of millionaires are losing faith in their wealth managers and accountants, while showing much higher satisfaction with their personal trainers, therapists, and family service providers. According to a new report by Long Angle, a professional network for startup founders and CEOs, the wealthy are increasingly prioritizing personal well-being over financial advice.

The survey found that only about one in three millionaires currently relies on a wealth advisor for financial planning, and one in five plans to fire their current advisor due to high fees and disappointing service quality. Even among those who use advisors, 26% are considering switching, and nearly one in five might stop using such services altogether.

In contrast, the survey revealed that millionaires express strong satisfaction with personal trainers, therapists, and professionals who support their health, family, and lifestyle. “Improving your bank balance doesn’t bring the same emotional satisfaction as improving your health or family life,” said Chris Bendtsen, market intelligence lead at Long Angle. “Services that focus on well-being or family needs consistently score the highest in satisfaction.”

This trend underscores a fundamental shift among high-net-worth individuals. Traditionally, financial advisors and tax consultants were at the core of a millionaire’s professional circle. Now, services once considered “soft”—such as wellness coaching, childcare, and self-improvement—are taking center stage in the lives of the wealthy.

The study surveyed 114 individuals with net worths exceeding $2 million, most of whom fall between $5 million and $25 million. Respondents were asked to rate their satisfaction with 14 types of professional services, from financial management and estate planning to fitness training and household support.

The results are telling. Personal services and childcare topped the rankings, with personal trainers earning an impressive average satisfaction score of 9.3 out of 10—the highest among all categories. Investment-visa advisors followed with 8.8, while sports coaches and therapists also received strong marks. Child-related services scored high as well: private schooling rated 8.3 and daycare 8.2.

At the bottom of the satisfaction scale were financial and property-related services. Wealth managers, in particular, earned a modest average score of 7.2. A majority of respondents reported not using a financial advisor at all. Among those worth less than $5 million, only 22% had an advisor, while 44% of those with at least $25 million did.

The main frustration? Cost. The median annual spending on financial advisors is $10,000, with most clients paying a percentage of their managed assets. Roughly one-third pay a fixed annual fee. Many millionaires see asset-based fees as unfair, since fees rise with portfolio size regardless of performance or service quality. As a result, more advisors are shifting toward flat-fee models. “Flat fee structures reflect a growing demand for transparency and a reduction in conflicts of interest,” the report noted.

Beyond cost, the wealthy are frustrated by poor service and lack of personalization. “The general feedback is that advisors are slow to respond and their advice often feels generic,” said Bendtsen.

Tax professionals also received lukewarm reviews. Although 82% of respondents use a CPA or tax expert, 42% are considering switching due to dissatisfaction with responsiveness and lack of proactive guidance. Estate planning services fared no better—half of the millionaires surveyed do not use estate lawyers, though usage rises sharply among those worth over $25 million. Surprisingly, satisfaction with estate attorneys ranked even lower than with pool maintenance services.

The study’s findings suggest that traditional financial and legal professionals are failing to deliver the personalized, goal-oriented experiences that high-net-worth clients increasingly expect. In contrast, service providers focused on physical health, mental wellness, and family life are excelling by building genuine, individualized relationships. “We heard repeatedly that wealth managers and lawyers feel too transactional,” Bendtsen explained. “Clients want something more personal.”

Spending patterns also reflect these changing priorities. Millionaires surveyed spend an average of $53,558 annually on nannies, $30,000 on private schooling, and $20,000 on daycare—despite these services’ high costs, satisfaction remains high.

Therapy is another area gaining traction, particularly among younger millionaires. Respondents gave their therapists an average satisfaction score of 8.3, spending a median of $5,000 annually. Among those under 40, 43% reported seeing a therapist—compared with just 13% of those over 50. Clients praised therapy for its positive emotional impact, empathy, and personal connection.

“Younger generations of millionaires are far more proactive about their mental and emotional health,” Bendtsen observed. “They’re redefining what it means to live well—not just to be wealthy.”

As wealth management firms compete to retain clients, the message is clear: the next era of luxury is not about accumulating more assets but enhancing quality of life. Personalized, compassionate services—once considered optional—are fast becoming the true measure of value among the rich.