Most advisors believe their clients value a fiduciary and, in fact, most advisors have been asked whether they are a fiduciary. They say the trend is clear: Clients want to work with advisors who are committed to putting their interests first and can demonstrate knowledge in the area of fiduciary responsibility.
The activities of advisors under age 40 tell us a lot about the future of financial advice. Among other things, younger advisors are far more likely to work on a team and focus on holistic financial planning. These differences likely reflect ongoing fee and industry pressures. Team-based practice models enable economies of scale for marketing and business growth. At the same time, younger advisors entered practice in a digital age—they need to stand apart in an era that provides easy access to low-cost digital platforms.
There’s a clear opportunity for asset managers to create stronger connections by delivering a steady stream of unique insight and market perspective. By prioritizing original research, asset managers can empower advisors with the expertise they need to inform their clients and fulfill fiduciary obligations. Learn more by downloading the full report.
