04.20.23

Here Are Advisors' Biggest Business Challenges: Cerulli

by: Michael S. Fischer

The latest Cerulli Edge — U.S. Advisor Edition digs into the biggest challenges faced by advisors and how asset managers can address them. Cerulli Associates’ research shows that for half of advisors, new client acquisition is the biggest challenge, while 41% of advisors cite compliance and regulatory responsibilities, 26% cite building multi-generational client relationships and 26% cite portfolio construction process optimization. Advisors say asset managers can help alleviate challenges by sharing other advisors’ best practices and by providing financial assistance for client events, support with advanced financial planning techniques and competitive product information. “Advisors consistently share that their best partners actively work to help address the most pressing challenges practices face, whether it be through digital tools, client-facing materials or intelligence gathered by wholesalers,” said Andrew Blake, senior analyst at Cerulli.

Read the full article on Think Advisor