DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Value Add and Practice Management Support to Advisors - 2017" report to their offering.
The report examines, in detail, how advisors use value add and practice management support provided by product manufacturers and distributors. The analysis reviews the influence these programs have on advisor perceptions and behaviors, the sources and preferred ways of accessing support, the firms providing the most useful tools and capabilities, and the enhancements to support advisors believe are most important. It also identifies the various topics advisors perceive as most important to receive assistance with going forward.
Virtually all advisors use value add and practice management support available from product providers and distributors. Satisfaction with these programs suggests continued room for improvement, with advisors wanting more capabilities that can be used directly with investors and which are implementation focused rather than purely educational.
Value add and practice management capabilities are a crucial part of the offering from product and service providers, and advisors clearly take advantage of these capabilities. Providers use these programs to generate awareness and goodwill among advisors as they look to differentiate their products and services. In the past year, advisors indicate these programs influence key factors such as their overall impression of a provider, the willingness to consider a provider, and loyalty to a provider. The challenge for firms is to further evolve their programs while staying relevant to the changing needs of different types of advisors.
The report is based on input from over 625 financial advisors gathered through an on-line survey conducted in January 2017. Those surveyed include full service brokers, independent brokers, financial planners, and Registered Investment Advisors (RIAs).
Highlights of the report include:
- Most advisors use value add and practice management support and are reliant on these tools and capabilities in running their practice. Roughly 2 in 3 advisors (67%) are heavily or somewhat reliant on value add support.
- More than 3 in 4 advisors (76%) perceive value add and practice management programs as having a positive impact on their practice.
- Advisors are far more likely to leverage value add support from primary providers, defined as those firms which they do the most business currently.
- American Funds, BlackRock and Charles Schwab are the most frequently listed providers of useful support, although firms identified as offering leading support vary across key channels.
- The most widely used value add and practice management programs in the past year focus on Social Security, managing portfolios in a challenging or uncertain environment, and managing shifting compliance or regulatory requirements.
- Looking ahead, advisors express continued need for support related to a variety of key challenges including developing new sources of referrals and clients, retirement and income planning, improving efficiency in their operations, managing client expectations and concerns, and navigating compliance and regulatory issues, especially the proposed DOL rules.
Key Topics Covered:
Section I: Executive Summary
Section II: Introduction and Methodology
Section III: How Advisors Use Value Add and Practice Management Support
Section IV: Value Add and Practice Management Support Topics and Needs
Section V: The Impact of Value Add and Practice Management Support
Section VI: Profile of Survey Respondents
Section VII: Outlook and Implications
- American Funds
- Charles Schwab
For more information about this report visit http://www.researchandmarkets.com/research/79hfbb/value_add_and