Goshka Folda, President & CEO, Investor Economics, and Global Head of Research, Strategic Insight, chatted with us at the 2018 Mindpath CETFA ETF Conference to discuss her research firm's findings of what it will take for advisors to remain the advisor of choice, to be irreplaceable, in the future, as the nature of the investment business evolves, as a result of the convergence of AI, Fintech, and the proliferation of ETFs.
On an increasing basis, advisors are facing mounting pressure as investors/consumers scrutinize costs and fees, demand more transparency, more 'contemporary' accessibility to the information regarding their accounts, and a higher level of guidance, beyond investment options. The commoditization of investment funds is shifting value in the financial ecosystem from the institutions to advisors, and advisors need to recognize that its more important than ever to fine tune their 'value narrative,' to define their value.
"There's never been a better time to be a great advisor," says Folda.
What makes you indispensable and irreplaceable to your clients? What do your clients need you for?
We discuss ideas advisors may implement to get in front of the curve of the industry's evolution, to free themselves to do more of the high value work that will make them indispensable and irreplaceable to their existing and future clients.