Cogent Reports

Advances in technology, regulatory pressure from the DOL fiduciary ruling, emerging competitive forces such as robo-advisors and changing client expectations are new issues facing advisors. Financial services firms need to adapt to changing advisor needs and offer support in this constantly changing landscape.

 

The Future of the Financial Advisor quantifies the key issues facing the financial advisory marketplace and how these issues will impact advisors. The report gives asset management firms a better understanding of the challenges advisors are facing so they can develop support strategies to strengthen advisor relations and also provides insights to advisory firms for employee retention and acquisition.

Value

The report will enable subscribers to:

Measure the Impact of Fiduciary Pressures
Uncover the current and anticipated impact of the DOL fiduciary ruling on advisor business practices to stay in front of changing advisor needs

Optimize Technology Offerings
Learn how to leverage, or position against, technology offerings like robo-advisors to maintain advisor connections

Strengthen Advisor Relationships
Develop effective support strategies for advisors to boost advisor satisfaction and limit firm and
channel migration

 

Methodology

  • Web-based survey
  • Representative cross section of over 800 advisors across the National Wirehouse, Regional, Independent, RIA and Bank channels
  • Stratified sample to allow for subgroup analysis by AUM, distribution channel, tenure, compensation type, product usage, level of DC production, etc.

 

Subscription Details

Publication Date: March 2017

Deliverables:

  • Detailed report with charts including
    summary and strategic implications
  • Custom data cuts and survey work by
    senior analysts available

Investment: $15,000

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Percentage of AUM in DC plans
• Percentage of compensation from DC plans
• Number and size of plans managed
Services provided to DC plan sponsors and participants
• Impact of fee disclosure regulations
• Number of plan providers typically recommended
• Number and type of investment options typically recommended
• QDIA option used most often
• Target date fund recommendation

Areas of Inquiry

Impact of DOL Fiduciary Ruling

  • Impact of the DOL fiduciary ruling
  • Most desirable types of DOL fiduciary support from asset managers
  • Anticipated utilization of the best interest contract exemption (BICE)
  • Support and opposition of the repeal of the DOL fiduciary rule

Advances in Technology

  • Current usage of technology and CRM platforms
  • Best-in-class mutual fund and ETF provider technology and the characteristics that make these firms stand out
  • Advisors’ wish list for provider technology support
  • Impact on and reliance of external and internal wholesalers

Business Practices

  • Current and anticipated percent of fee-based compensation
  • Proportion of client assets invested in model portfolios and managed money solutions
  • Availability and future interest in third-party digital advisory programs (aka robo-advisors)

Advisory Firm Satisfaction/Channel
Migration

  • Overall advisory firm satisfaction
  • Satisfaction with DOL fiduciary support and solutions offered by advisory firms
  • Likelihood to switch advisory firms within the next two years
  • Channel migration (type of firm likely to switch to)
  • Rationale for switching firms

 

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