Financial advisors have spoken about their firms’ compliance, compensation, technology and other important issues. The numbers tell the story, from the September 2013 issue of Investment Executive. Research by: Justin Da Rosa, Tessie Sanci, Dane Taylor and Jeff Wimbush. Research Editors: Pablo Fuchs and Clare O’Hara.
August 23, 2013Pablo Fuchs, senior editor at Investment Executive, and Clare O’Hara, staff writer, discuss key themes from the 2013 Advisors’ Report Card. Despite seeing growth in their books of business, client numbers and satisfaction levels, advisors also report hurdles in dealing with the back office, technology and communication. They spoke at the TMX Broadcast Centre in Toronto.
Once considered pariahs within financial services firms, compliance officers are now viewed as “partners” in doing business, who are “eager to help” and respond “immediately”
Advisors of all stripes say that even though their firms are open to receiving advisors' feedback, their suggestions are seldom put into place - nor do most firms follow up on or respond to these recommendations
Firms are performing strongly in their approaches to diversity in the workplace
Firms and their advisors have embraced financial planning, but it appears clients have not. Advisors cite the time and the complexity involved in preparing a plan as major reasons why clients don't want to go through this process
There's much dissatisfaction regarding firms' back-office departments advisors cite a bevy of concerns
A key theme of the Report Card series, year in and year out, is that firms could do more on pay. This year, most advisors said growth in their books of business has not been reflected properly in their compensation. Some firms, though, have the answer
Advisors with the nine firms that received the highest ratings are able to build their businesses as they see fit
Across all channels of the financial services industry, advisors report bigger books and client rosters, on average. However, the rates of growth over the past four years aren't as robust as the latest annual numbers appear to indicate
Concerns focus on firms' back office, technology and receptiveness to advisor feedback. Nonetheless, firms are delivering in the areas in which advisors place the greatest value
This Report Card summarizes data from each of the Brokerage, Dealers' and Bank reports, looking at the trends across the financial advice industry
This year's research reveals how well the Big Six are meeting branch advisors' need for coaching, fair pay and effective tools
Advisor satisfaction across most of the 11 full-service and mutual fund dealers in the Report Card has held steady or improved compared with 2023
The Report Card, which has been published for more than 30 years, explores the concerns and needs of investment advisors in Canada as their firms…