Unlocking Real Value Blog

Trends Affecting Financial Services Professionals

While the outlook for the general economy is still somewhat uncertain, the performance of the stock market over the past year certainly has investors feeling more confident. 
Almost a year into the stock market’s recovery, several interesting trends have emerged which directly affect financial services professionals:
* Clients now have a year’s worth of data to evaluate their advisors on how they reacted to the financial crisis and if what they are doing for them is working;
* Movement among advisors continues – both those moving within the same channel (wirehouse to wirehouse) and among channels (wire to regional, wire to independent, etc.); and
* Investment management and advisory firms that have lost significant assets have had a year to see if they have been able to successfully adapt operationally and strategically.
The remainder of 2010 will be characterized by CHANGE – unhappy clients seeking new advisors, unhappy advisors seeking new homes and mergers among firms that recognize that they can’t go it alone any longer.
The common denominator among these trends is that to be successful, market participants must clearly articulate their differentiating characteristics – their brand.
Clients thinking of changing advisors need a compelling reason to do so. Merged firms need to articulate the benefits of their new organization. And advisors that have switched firms need to convince clients to move with them. Your brand will influence if you emerge from this environment of change as one of the winners or not.

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