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Financial Planning Research Roundup: February 2022

Cara Woodland March 1, 2022

February 2022 Financial Planning Research

Digital disruption continues to be a prominent headline in the wealth management industry. Investors accustomed to exceptional experiences in other industries are pushing firms to deliver more. Firms are examining their operations, and finding new ways to personalize wealth management while at the same time being more productive than ever, growing the business with more effective marketing, and catering to environmental, social, and governance (ESG) demand.

1. Analytics Transformation in Wealth Management – McKinsey & Company

Meeting the needs of today’s clients requires wealth management firms to be highly efficient yet adaptable to each individual client. Flat fee advisory models and personalization for life stages or goals have proven to be effective strategies, but both are fueled by an investment in advanced analytics. Learn more in McKinsey & Company’s recent report on analytics transformation.

2. New Realities in Wealth Management – Aite Novarica

There have been two major events in recent history with a dramatic impact on the wealth management industry: social distancing led to rapid digital adoption and investors with stimulus cash flooded the market. This recent report from Aite Novarica takes a look at these trends and their widespread impact in the wealth management industry.

3. U.S. Advisor Metrics 2021: Client Acquisition in the Digital Age – Cerulli Associates

Among many things, this recent report from Cerulli examines common challenges financial advisors face. Productivity is chief among them, with 21.8 percent of an advisor’s time being spent on administrative tasks. Practice management professionals believe that serving non-ideal clients, insufficient process mapping, and ineffective delegation impede advisor productivity most often. You can access their report here.

4. Time for Sustainable Investing to Move from Marketing Sizzle to Reliable Results – Bain and Company

Investors are increasingly desiring ESG factors be incorporated into their portfolio. They’ve also become increasingly skeptical about the impact of these investments. Wealth managers need to develop a way to quantify and report on the impact of ESG factors that are most important to their customers. Learn more about ESG trends from Bain and Company here.

5. Elevating Your Financial Planning Business: Improving Client Engagement and Experience Through Better Marketing – eMoney Advisor

Digital marketing is an essential component of any financial planning practice in growth mode. While most people immediately think about client acquisition when they hear ‘marketing’, the truth is you can grow your business by marketing to existing clients first. Learn more in our recent eBook here.

Stay tuned for next month’s financial planning research roundup!

DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

About the Author

Cara Woodland is the Director of User Experience Research at eMoney. She helps the organization understand the wealth, financial advisor and financial technology marketplace in order help them be more customer centric in their decision making. She focuses on research related to customer experience, marketing, branding, new products and competitive intelligence. Prior to joining eMoney Advisor, Cara spent over 10 years consulting with Fortune 500 companies in market research, innovation and product development. In addition, she also has practical client-side experience within the finance and banking industry in developing marketing, front-end innovation and customer engagement programs. Cara graduated with a degree in Marketing Management from Virginia Tech and is a Certified Financial Marketing Professional. In addition, she is a frequent speaker and author on the topics of innovation, market research, creativity, communication and marketing strategy for colleges, professional associations and corporations.

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Welcome to
Heart of Advice

a new source of expert insights for
financial professionals.

Get Started

Tips specific to the eMoney platform can be found in
the eMoney
application, under Help, eMoney Advisor Blog.