Mercer has identified 10 priorities that wealth management advisors should consider to best serve their clients in 2016 and to help them stand out in an increasingly competitive environment.
“As the wealth management landscape continues to evolve, we continue to see three core challenges. These challenges include firms’ attempts to enhance investment returns in a low return environment, a volatile investment market, and attempts to contain costs with increasing regulatory pressures.”
— Cara Williams, senior partner and the global head of Mercer’s Wealth Management business and Global Technology Solutions.
When was your last regulatory checkup?
Is your revenue model the best for staying competitive in the changing landscape?
Are you prepared to deal with competition from the growing number of independent firms?
Are “robo advisors” a good fit or your operation?
Would outsourcing better serve your needs?
What are you allocating to, and are alternatives part of your strategy?
Are you discussing goals-based advice with your clients?
When did you last evaluate your exchange-traded funds (ETFs) strategy?
Do you have a solid strategy in place for addressing the rising interest rate environment?
Are you taking advantage of discretionary portfolio solutions?