Evolving Advice Business Model

Broadridge Financial Solutions

Broadridge Financial partnered with 8 Acre Perspective to assess how financial advisors (FAs) perceive the industry one year since the pandemic began and how they are planning to change their business practices in the months and years ahead.

A survey of 400 FAs found, among many other insights:

  • Emerging from the COVID-19 crisis, FAs see opportunity ahead (e.g., three-quarters believe current conditions are favorable for growing and scaling a practice).
  • FAs want to spend more time on client-facing activities and new client acquisition.
  • Top areas in which FAs plan to increase spend are marketing / biz dev and technology.
  • A growing emphasis on holistic planning, particularly among younger FAs
  • Most FAs plan to increase allocations to ETFs over the next 2 years

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