The vast majority (81 percent) of registered Investment Advisors (RIAs) and fee-based financial advisors believe that over the next 12 months, the profitability of their practice will increase.
That’s according to Jefferson National’s inaugural Advisor Authority study on innovative advisor behaviour which also reveals that just three per cent expect profitability to decrease. In addition, this online survey of 535 RIAs and fee-based advisors nationwide commissioned by Jefferson National and conducted in April by Harris Poll, examined three types of successful advisor who are setting the trends – the High Earning Advisor, the Advisor with High AUM, and the Tech Innovator – to identify the most effective strategies and top priorities to succeed in a competitive market.
“Our commitment to serving RIAs and fee-based advisors inspired us to launch this annual study to offer powerful insights and practical advice that every advisor can implement today to help build their business for the future,” says Mitchell H Caplan, CEO of Jefferson National. “We learned that advisors thrive when they are dynamic and proactive – shifting strategies to capitalise on evolving investor demographics and rapid innovation of technology. Overwhelmingly bullish about their professional future, the most successful RIAs and fee-based advisors are embracing this change – and leading it.”