More than half of financial advisers believe regulation will be the most significant shaper of the advice industry over the next three to five years, according to a new survey by CoreData Research.
Demographic change, cited by 50% of the 200 advisers polled, and technological innovation, cited by 49%, are also expected to be prime forces shaping the wealth management business in the years to come, the research firm said in a release.
About four in 10 advisers (44%) say the low-return environment, geopolitical risk (44%) and fee compression (41%) will affect the business as well. Less important, survey respondents said, will be market volatility (39%), the macroeconomic environment (35%), the impact of fintech (20%) and industry consolidation (10%).
As far as business growth over the next few years, 74% of advisers said the most important factor will be the ability to demonstrate value beyond investment advice and portfolio management. This is followed by capitalizing on the intergenerational wealth transfer opportunity (57%) and attracting younger clients (44%).
A further 44% said improving economies of scale to offset fee compression is important to business growth, while 37% cited the importance of implementing a digital strategy for clients.
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
