Investor sentiment is changing, so advisors must adapt.
“The demand for greater mobility and more frequent client communication through social media imposes a challenge to firms to ensure communication through media channels is properly monitored and in compliance with regulatory requirements,” notes IIAC president and CEO Ian Russell in a letter.
And with the low interest rate environment, investors are focused on cash and liquidity. In fact, 25% of U.S. investors are in cash, he says. And this trend is similar in Canada.
Further, 25% of investors define long-term as less than five years. And they’re more focused on meeting goals, instead of worrying about portfolio performance.
So how can advisors help? By building strong relationships and “delivering financial services on a more holistic basis,” notes Russell.
“This approach enables advisors to develop a plan that includes tailored financial and estate planning, with the right tactics to meet their goals, and a personalized communication plan to keep the client informed of ongoing progress.”