With ratings declining in some key areas and fewer advisors prepared to recommend their firms, advisors believe their firms could be doing a lot more to keep them satisfied
How advisors rated their firms
Many advisors bemoan their firms not standing up to the regulators or offering enough support to deal with regulatory changes, and firms struggle to be in compliance
Getting things right in handling advisors' feedback can be a challenge for firms even when they put significant efforts in place to accept and respond to that feedback
Having skilled, experienced and helpful staff with long tenure in the firm goes a long way toward ensuring advisors are satisfied with their dealer firm's back-office department
Much praise was given to dealer firms that have an extensive mutual fund offering and provide access to other products that cater to specific clients
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
While most advisors spend their careers helping their clients accumulate assets, Ian Moyer focuses on helping older clients convert their retirement savings into income. "A lot of people are taking money out of their plans," he says. "It's a huge market"
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