Advisory fees are inching up for the wealthiest clients. According to research released last week in a newsletter from Cerulli Associates, many advisors to high-net-worth investors have increased their fees over the last three years.

While high-net-worth clients are extremely price sensitive, advisors have been able to make a case to clients as the economy begins coming out of the financial crisis, said Rob Testa, a senior analyst at Cerulli Associates, in an interview. 

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