Top 21 Signs That You Need A Financial Planner

The digitization of financial services is upon us and with it comes an opportunity to grow—not just in our use of technology, but also in the way we serve clients. In this age of hybrid financial advice, where clients wish to experience the same autonomy they have on Amazon with the customized advice they get from their therapist, we have a lot of growing to do in the industry to meet these demands. Innovation is the key and technology is just a piece of the puzzle.

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Given projections for a 100,000 financial advisor shortfall over the next 10 years, successfully recruiting next-gen advisors has taken on added urgency for both our industry as a whole and the wealth management firms seeking to thrive within it.

Meeting this demographic challenge head-on is complicated by the evolving nature of wealth management. Increasing numbers of breakaways forgoing the wirehouse model, as well as the growing presence of aggregators, consolidators and private equity, are altering the landscape. The expansion of W-2 models in the independent space is redefining what it means to be independent. At the same time, technological innovation, particularly AI, offers great promise and an equal amount of trepidation.

The generational differences next-gen advisors and their clients bring to the table – priorities, expectations, skills and values – present yet another challenge when it comes to effectively engaging this group. However, meeting next-gen advisors where they are is a solid recruiting practice some firms can’t get their arms around. There’s a reason firms currently thriving in the marketplace with younger advisors are enjoying success…Read More