For the average advisor, AUM is up while client numbers were down, which points to rising productivity as measured by AUM/client household. And, on the bottom line, compensation for the average advisor rose
As regulators increase their focus on elderly clients, financial services firms of all descriptions are working diligently to provide products, services and staff training suited to help advisors take care of the needs of their aging clients
Firms and advisors face challenges relating to major technological changes, demographic issues and increased regulatory oversight. How are they responding?
Pablo Fuchs, senior editor with Investment Executive, and Fiona Collie, staff writer, discuss the results of the Advisors’ Report Card 2015. This year’s Report Card series saw advisors’ businesses continue their unprecedented growth despite emerging challenges, such as CRM2.
CRM2, with its focus on enhancing the investment costs to clients, is transforming advisors' traditional revenue model
Most advisors say they already have transformed their businesses in anticipation of CRM2, but others say the new regulatory regime is bound to be disruptive
Although advisors are continuing to see significant growth in their books of business, their practices are undergoing a seismic transformation as a result of new regulatory initiatives
Work remains to be done to improve firms' communication efforts with their advisors
A significant percentage of advisors recommended their firm, but a close look reveals that this usually comes with stipulations
Technology is often a source of dissatisfaction, but some firms have found the right formula