This research surveys the influences of investment preference and risk perception on the investors' asset allocation. The findings may help trust companies and financial institutes to offer better investment service to their customers. Using a questionnaire survey, the sample is drawn from Taiwan Island. The results show that (1) investors' preference can be measured by six factors such as information source, profit ability, product acquaintance, investment motion, investor's belief and macroeconomic situation. The risk perception can be measured by three factors such as risk aversion, risk neutral and risk taking. (2) investors can be classified into four clusters; respectively, information dependence, rational conservatism, no special preference and aggressive participation. Different clusters have some significantly differences in their demographic features and investment portfolio.