Tech Is Helping Advisors Meet (And Exceed) Client Expectations

Christine SimoneAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

As one of the panelists in a 2023 Envestnet, Inc. webinar said, “​​Affluent investors want more services, and they want it all in one place: from their financial advisor.”

Clients trust their financial advisors with the most important financial decisions in their lives, which is why they turn to them for other areas of assistance that affect their financial well-being.

Financial advisors are well-suited to help clients with all the important decisions in their lives, and clients know this. It’s a major reason why client expectations have expanded beyond investing strategies over the last few years. A CEG Insights (formerly The Spectrem Group) study found that 93% of those surveyed expected their advisor to help with estate planning, 92% expected tax planning advice, and 65% expected health insurance advice. In addition to expecting value-added services, 62% of those surveyed said they prefer for all their financial planning needs to be met by a single provider.

Clients don’t want to be referred to other businesses or professionals.

Although that is daunting, it’s a win for financial planning professionals to be the go-to trusted resource for all their clients’ comprehensive financial planning needs.