by Janet King, Vice President Research & Content Solutions, Arizent
As current and past crises have taught us, predicting the future is not easy but anticipating trends is critical to building a resilient business. To help firms plan for the year ahead, Financial Planning recently conducted a survey among 362 wealth management professionals to predict what trends they think will be shaping their industry and informing their business strategies for 2023 and beyond. Insights from that survey and other original research from Financial Planning provides a peer-based perspective on the challenges and opportunities advisors see on the road ahead.
What we see is an industry largely fine tuning itself — acquiring new customers (but paying too little attention to younger, underserved segments), attracting new talent (including back-office support staff), investing more in technology (with a focus on digital experiences), and reducing costs. To read more about Financial Planning’s 2023 Predictions, please download the report here.