The Financial Advisor Channel - US - March 2012
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The strengthening of the economy has been a boon for the advisor market. Assets under management have rebounded to levels not seen since before the 2008 crisis and most advisors expect to keep growing their businesses. Baby Boomers are beginning to retire and will require financial assistance to help manage their assets. In addition, the recession has left a mark on the younger generations who are now more cognizant of the dangers inherent in not planning for the future, and many are more amenable to the idea of financial advice than ever before. Social media, the advertising darling of the moment, is being embraced by many advisors, although compliance concerns keep usage lower than it might otherwise be. As firms figure out how to address those concerns with standardized procedures or new technology (or both) many advisors will become more active in the media and learn how to use it to their best advantage.
While there are several positive trends within the advisor industry, there are challenges as well. The internet is a primary source of information for investors of all ages, and many people are looking at it as an alternative to an advisor. The industry is also aging, with the great majority of advisors over the age of 30, and the average age of the Financial Planning Association membership at 53. Advisors need to be thinking about succession plans and figuring out ways to bring younger people into the industry— and then keep them. With the retention rate of young advisors at approximately 20%, the future may see too few advisors for too many clients.
What you need to know
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.