Two new studies conducted by New York City-based Luxury Institute reveals that wealthy investors in the US have a rather dim view of Wall Street in general, but remain loyal towards their primary advisor.

According to the 2011 Wealth Management Client Experience survey, 43 per cent of investors with at least $200,000 in annual income and a net worth of $5 million and up find that regulators are having a hard time imposing sanctions on individuals and firms that commit wrongdoing.

Meanwhile, 38 per cent say the securities industry is driven by greed, while 32 per cent say it is slow to disclose conflicts of interest. Despite these uncertainties, the research found resistance towards changing advisor, with 45 per cent of the wealthy investors spending at least 10 years with theirs.

Of the respondents, 36 per cent employ the services of full-service brokers as their primary advisors, 28 per cent go to an independent advisor, while 12 per cent partner with private bankers. The survey identified Morgan Stanley, Merrill Lynch, and Wells Fargo as the top wealth managers among the rich.

In the second study, as reported recently by Family Wealth Report, the 2011 Luxury Brand Status ranked national firms on quality, exclusivity, social status, and overall client experience. In this survey, Atlantic Trust Private Wealth Management earned top ranks, followed by Glenmede Trust, then by Rockefeller Wealth Management.

"Wealthy clients want to stay loyal to their advisors," said Milton Pedraza, the chief executive of the Luxury Institute, in a statement. "It is up to these firms to validate that loyalty."