The financial services industry is at a key inflection point, with a number of trends shaping the future of advice, including fee compression, the rise of passive investing, disruptive technology, the need for advanced education, and the lack of practice diversity. These changes have led to a transformation in how advisors serve their clients' needs and their value proposition.
Over the last several years, we have begun to see a bifurcation of advisory models, with smaller investors being pushed towards some form of robo-offering, and high-net-worth investors being served by wealth advisors. To address the needs of HNW investors, many advisors have needed to improve their investment acumen and expand their team’s capabilities.
Practice Evolution
Financial advisors serving HNW investors are often called “wealth advisors”—a term that better reflects the work they do for their clients - but which also meant that advisors need to reinvent themselves and provide new and...
