Broadridge is a leading fintech company providing critical infrastructure to power corporate governance, capital markets and wealth and investment management. In 2022, 8 Acre Perspective partnered with Broadridge to conduct studies among financial advisors and retail investors, resulting in a holistic assessment of the advisory landscape.
Highlights of the advisor (n = 400) and investor (n = 1,000) studies include:
- More than a third of investors report their financial situation is worse than 12 months prior. Advisors are feeling the brunt of this, perceiving unrealistic client expectations and fee compression as two of the greatest threats to their businesses.
- Faced with fee pressure and investors’ desire for more holistic advice, advisors are expanding their solution sets, increasing use of SMAs and outsourced model portfolios.
- Comfort with digital engagement and technologies accelerated during the pandemic. While many advisors are optimistic about the return of in-person interactions and industry events, they envision an enduring place for virtual engagement.
- What the research means for asset managers: to effectively support FAs and their clients, personalization is key. Asset managers can strengthen their advisor relationships by addressing individual needs via a diversified product set, the right digital/in-person balance and data-driven engagement.
