Financial advisors rely upon their dealers to provide a solid foundation of key services and support on which to grow their businesses. However, advisors believe there are a few cracks in that foundation as firms are struggling to deliver or meet advisors' expectations in these key areas.
Pablo Fuchs, senior editor with Investment Executive, and Fiona Collie, staff writer, discuss why survey participants believe their dealer firms are failing to meet expectations in some key categories.
The emergence of new competitors, such as robo-advisors, combined with the impact of increased regulation and shifts at both the client level and within the advisor population, have led to a drop in average AUM and productivity
Almost nine in 10 advisors said their dealer firms don't encourage advisors to drop the smallest clients from their books of business. Advisor independence and the need to take care of growing clients' needs were cited as key reasons