Advisers challenged to find ‘new ways’ to inspire confidence in clients

LSEG business Refinitiv’s new report, Getting Personal: How wealth firms can attract and retain the modern investor – which surveyed over 1,500 self-directed and advised mass affluent and high-net-worth investors across 13 countries including Australia, the US, UK and China – found that 43 per cent of Asia Pacific investors state “investment adviser/broker recommendations” as the most reliable source of information.

Meanwhile, 47 per cent of Asia Pacific respondents said they are willing to pay more for personalised investing products and services and 39 per cent said that technology will only make an adviser’s role more important moving forward.

“As investor needs in Asia Pacific continue to change and reflect new ways of investing and doing business, so too must those of financial advisers to retain clients and grow their business,” LSEG global head of wealth, data and analytics, Sabrina Bailey, said.

“Our report makes clear what those key investor expectations are and what financial advisers need to do to inspire confidence: provide a broader range of digital capabilities, personalised products and services, and alternative investment opportunities.”

Javelin Strategy & Research’s director of wealth management, William Trout, added that the rise of 'Next Best Action' and desire for personalised service by investors points to the need for proactive engagement from advisers.

“The Refinitiv wealth management report both highlights the role of the advisor as a catalyst for decision-making and underscores the contribution of digital technology in shattering trade-offs between customization and scale,” Mr Trout said.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.