PLANADVISER - September/October 2018 - 18

trendspotting
The Most
Successful
Advisers
Are Tech
Innovators
AI is just one strategy they
use to drive profitability
THE most successful registered investment
advisers (RIAs) and fee-based
advisers have many traits in common,
according to " Advisor Authority 2018:
The Future of Advice, " a study commissioned
by Nationwide Advisory Solutions-its
fourth such study.
" The most successful RIAs and
fee-based advisers, who earn more
and manage more AUM [assets under
management], are already a step
ahead by putting clients first with a
fiduciary standard and more holistic
planning, " says Craig Hawley, head of
Nationwide Advisory Services. " They
further differentiate themselves by
harnessing prevailing
trends-from
artificial intelligence [AI] to demographic
shifts to industry consolidation-to
create their own competitive
advantage. To keep pace, all advisers
must adapt or be left behind. "
Nationwide defines the most
successful advisers as those earning
$500,000 or more a year or having AUM
of $250 million or more. The company
found that a number of similar traits
distinguish these advisers. Notably,
they are tech innovators. They rate
technology as the second most important
factor for driving profitability over
the next 12 months.
These advisers employ the competitive
advantage of AI to transform
every aspect of the customer experience,
including offering a new universe
of products. They align with their
clients' best interests, thereby deepening
their relationships with them
and attracting more assets. Successful
advisers also define their ideal client
and what their top concerns are in
order to customize their practice to
meet these needs, the study says.
TALKING POINT
Alternatives
Fifty-three percent of advisers expect
to increase their allocations to
alternatives by the end of this year.
Source: BNY Mellon / Pershing
18 | planadviser.com September-October 2018 Art by Alex Kiesling
Finally, they are marketing innovators.
This year, successful advisers say
increased use of mobile technology is
their top solution to attract the next
generation of investors (33%), followed
by increased use of social media (30%).
-Lee Barney

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PLANADVISER - September/October 2018

Table of Contents for the Digital Edition of PLANADVISER - September/October 2018

Valuable Partnerships
Pension Risk Transfer
How to Explain CITs to Sponsors
Open MEP Opportunities
Appropriate Benchmarking
Investigations Intensify
PLANADVISER - September/October 2018 - Cover1
PLANADVISER - September/October 2018 - Cover2
PLANADVISER - September/October 2018 - 1
PLANADVISER - September/October 2018 - 2
PLANADVISER - September/October 2018 - 3
PLANADVISER - September/October 2018 - 4
PLANADVISER - September/October 2018 - 5
PLANADVISER - September/October 2018 - 6
PLANADVISER - September/October 2018 - 7
PLANADVISER - September/October 2018 - 8
PLANADVISER - September/October 2018 - 9
PLANADVISER - September/October 2018 - 10
PLANADVISER - September/October 2018 - 11
PLANADVISER - September/October 2018 - 12
PLANADVISER - September/October 2018 - 13
PLANADVISER - September/October 2018 - 14
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PLANADVISER - September/October 2018 - 18
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PLANADVISER - September/October 2018 - 20
PLANADVISER - September/October 2018 - 21
PLANADVISER - September/October 2018 - 22
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PLANADVISER - September/October 2018 - 27
PLANADVISER - September/October 2018 - 28
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PLANADVISER - September/October 2018 - 36
PLANADVISER - September/October 2018 - 37
PLANADVISER - September/October 2018 - 38
PLANADVISER - September/October 2018 - 39
PLANADVISER - September/October 2018 - 40
PLANADVISER - September/October 2018 - 41
PLANADVISER - September/October 2018 - 42
PLANADVISER - September/October 2018 - 43
PLANADVISER - September/October 2018 - 44
PLANADVISER - September/October 2018 - 45
PLANADVISER - September/October 2018 - 46
PLANADVISER - September/October 2018 - 47
PLANADVISER - September/October 2018 - Valuable Partnerships
PLANADVISER - September/October 2018 - 49
PLANADVISER - September/October 2018 - Pension Risk Transfer
PLANADVISER - September/October 2018 - 51
PLANADVISER - September/October 2018 - How to Explain CITs to Sponsors
PLANADVISER - September/October 2018 - 53
PLANADVISER - September/October 2018 - Open MEP Opportunities
PLANADVISER - September/October 2018 - Appropriate Benchmarking
PLANADVISER - September/October 2018 - Investigations Intensify
PLANADVISER - September/October 2018 - Cover3
PLANADVISER - September/October 2018 - Cover4
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