The clients' feelings about investment risk is one of two key findings from the survey. The second is that advisors (48%) say managing their time and resources are their biggest problems.
Advisors (47%) say the will incorporate more technology in their business this year or that they (33%) will outsource more functions to improve efficiency. However, more than a third of advisors say they do not have time to utilize their product partners' programs that are available now.
Product "providers need to focus on ensuring that their programs are relevant, practical and delivered in a way that is compelling and accessible" in order for them to be useful to advisors, the survey concluded.
The survey showed 74% of advisors say the ability to view all of a client's holdings on a single platform is very important to them and 68% want a platform that supports multiple product types and investment options.
- Karen DeMasters