Escalent
Escalent
Cogent Syndicated

Changes that were already underway in the advisory business are accelerating amidst the backdrop of the COVID-19 pandemic. At the same time, the makeup of the advisor population is changing as more advisors approach retirement and firms work to attract younger advisors.

The Next Gen Advisor provides insight into the shifting role of financial advisors and identifies opportunities for firms to adjust service models to better meet the needs of younger advisors and their clients. For asset managers, this new report offers a better understanding of changing advisor business practices so firms can stay relevant and strengthen advisor relationships. For advisory firms, the report provides key insights for successful employee retention and recruitment efforts.

Value

The report will enable subscribers to:

Anticipate Advisor Needs
Adjust outreach strategies to meet advisor expectations

Optimize Service Models
Segment and target support strategies to boost advisor satisfaction and loyalty

Ensure Ongoing Relevancy
Maintain mindshare and growth trajectory for years to come

Methodology

  • 14 in-depth telephone interviews with a mix of advisors by age and channel
  • Web-based survey of 800 financial advisors, including ~200 advisors under the age of 45
  • Subgroup analyses by generational cohorts, channel and AUM

Areas of Inquiry

Adjusting to a Volatile Market Environment

  • Frequency of communication with clients
  • Changes in client communication methods
  • Challenges in communicating with clients/addressing client fears
  • Sources of information
  • Educational materials/support needed from asset managers

Generational Similarities and Differences in Needs

  • Advisor profile
  • Technical vs. non-technical focus
  • Compensation models
  • Individual vs. team-based approach
  • Client profile
  • Strategies for attracting new clients
  • Advisor communication preferences
  • Reliance on wholesalers
  • Practice management needs
  • Number of provider relationships
  • Key consideration factors influencing investment provider selection
  • Advisory firm satisfaction and factors driving firm selection
  • Succession planning

Subscription Details

Publication Date: September 2020
Deliverables:

  • Comprehensive written report with analyses, commentary and strategic implications
  • Custom strategy session and presentation
  • Custom data cuts by senior analysts available

Investment: $25,000

The Next Gen Advisor_Fact Sheet
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