Forecasting the future: what could your business look like in five years’ time?

Financial Advisory

Financial Advisory

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Expert: Adrian Moore – Blackrock ishares

Moderator: John Chapman – John Chapman Consulting 

Key Findings:

  • With 4% investment returns becoming the norm, charging structures will come under pressure for all segments of the distribution chain. Productivity will become a key metric and technology support will become a key factor in all advice businesses.
  • Costs will be a factor in technology development and advisory businesses will need support in developing solutions.
  • Client banks will become “younger” over time and younger generations will want more digital engagement. Advice businesses need to develop digital solutions to support their traditional face-to-face model.
  • With “younger” client banks, we should not ignore the need to develop younger advice talent and we should not just focus on graduates, personality is the key and can be found in A level students and second-career candidates.
  • What exactly is the “Advice Gap"? Is it advice or guidance that’s needed or is the market missing the traditional “Man from the Pru”? Perhaps, for a segment of the market, we have a “Sales Gap”. 
  • We are a profession now, not an industry and this needs promoting to a wider audience in the UK.

 


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