Advisers see shift to planning, survey finds


Offering holistic financial planning will become an increased focus of advisory practices, according to a survey by Broadridge Financial Solutions.

The survey of more than 300 advisers, conducted from Feb. 21 through March 1, found that about half (51%) will be concentrating more on planning to meet growing customer demand for the service.Advisers who are under 40 are four times more likely than those over 55 to believe that holistic financial planning is the main value they provide to their clients, the survey found.

In three years, nearly 80% of those surveyed expect to be part of a team. And most expect fee-based business to be the dominant model in coming years.

Broadridge said that while it surveyed advisers prior to widespread quarantining in response to COVID-19, the current global environment has intensified the trends identified by the survey.

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Written by Investors Wallets

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