According to the survey, marketing was considered the most important way to grow business, cited by 96% of respondents, while total account development and cross-selling was cited by 90% and business plan development was cited by 84%.
Among other findings from the survey: 72% of respondents said their clients were most concerned about protecting principal while 45% were most concerned about guaranteed income. Not surprisingly, advisors reported increased demand for more conservative products, including those offering guaranteed income. They also reported demand for products with tactical investment strategies designed to do well in topsy-turvy markets.