New Pershing Study Cites Trends For The Future That Must Be Adapted To Now Hot

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New technologies. More sophisticated clients. Lack of new talent entering the advisory field. Each of these is having its own impact on work flow, productivity, and quality of service.
Not to mention profitability and growth. Each of these trends is impacting advisor businesses already.
That impact will only grow in the future. Technological advances are giving investors a false sense of security that they can manage their own finances and investments.
Advisors must improve their quality of service and advice to counter this perception to retain existing clients as well as attract new ones.
They also must become better managers and create long-term staffing solutions to offer opportunities for advancement to younger members of their teams.
Going beyond minimal compliance will help rebuild investor trust and showing resiliency and adaptability to change will particularly attract the younger wealthy, who are growing in numbers.
Pershing Advisor Solutions CEO Mark Tibergien says advisors must adapt to the new normal and institute new practices to ensure future success.
The study is titled Advisor of the Future II: Building a Business to Last.

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