7. Brokerage (14.7%)
This category takes a surprising spot on this list, given that clients most often surrender their portfolios to their advisers (discretionary management was over three times more common than non-discretionary among our respondents).
So, which demographic pushed this service to the top of the list? Men (17.8% vs. 11.1% of women) over 65 (25.3%) with over $1 million in investable assets (21.6%), apparently, like to invest their own money themselves.
Adviser respondents (60.2% of whom are affiliated with a broker-dealer) rightly know that such services, while important to a large portion of their most valuable clients, will not be an important tool when they look to grow their book of business over the next five years. Just 8.6% cited offering brokerage service as a growth opportunity.