In the past decade, several trends converged to significantly reshape how financial advisors (FAs) work and the way they interact with clients. Broadridge Financial partnered with 8 Acre Perspective to understand how FAs plan to navigate an era marked by lower fees, rising client expectations and sophisticated technology.
A survey of more than 300 FAs found:
- Solo practices will continue to decline as FAs leverage team structures.
- FAs are likely to increase focus on practice goals related to holistic financial planning to help increase income and differentiate from low-cost digital options.
- FAs recognize a need to allocate more time to client facing and business building activities.
- The majority of FAs increasingly plan to integrate ESG funds as an investment solution for clients.
The research has been cited in CNN Business, FA Magazine, ThinkAdvisor, and other news outlets.
