Financial advisors are navigating significant industry disruption. Technology is driving higher client expectations, while firms are in operational and organizational transition, with advisors caught in the middle.
In previous weeks, I’ve written about initial results from our Voice of the Advisor survey, for which we interviewed 650 financial advisors in North America to understand how the industry is changing, and how their firms are supporting them.
Today I wanted to share our new Infographic which summarizes our key findings:
These insights prove that clients and advisors alike are highly digital, and advisors already consider advanced digital tools and social media to be a critical part of the client experience. Clients themselves are closer to their investments than ever before, demanding greater understanding and control over their investments. Meanwhile, operational issues such as compliance requirements and getting needed support on key issues remain challenges for advisors.
What can firms do?
- Equip your advisors to offer a more differentiated value proposition
- Incentivize advisors to collaborate on deeper levels of planning with clients
- Take an “outside-in” experience-led approach to your advisor desktop
- Support advisor training and career planning that adjusts to an evolving market
To learn more about the Voice of the Advisor study, please read my previous posts: