A recent panel discussion at Nicsa's 2024 Strategic Leadership Forum, Building Tomorrow’s Portfolio, delved into the trends are gathering steam—from investment themes to pricing and packaging—and provided insight into target investors and their preferences.
The panel was moderated by Davis Walmsley, Principal at Broadridge Global Asset Management Strategy Consulting. Panelists included Katie Fischer, Director, Equity, Fixed Income and Multi-Asset Pillars, US Wealth Advisory, BlackRock; Alex Goldsmith, Chief Strategy Officer, First Eagle Investments; and Ben Slavin, Global Head of Commercial Engagement & Strategic Growth, BNY Mellon.
Themes, Ideas, and Takeaways:
- Shift in Investor Needs: The shift in investor needs is focused on personalized investment solutions aligned with values, tax considerations, and comprehensive financial planning services. Investors, particularly younger and more diverse ones, seek alignment between their investments and their values, demanding more from financial advisors.
- Evolution of Financial Advisory Services: Financial advisory services have evolved from passive allocation to active management, encompassing a broader range of services such as estate planning, tax advice, and wealth planning. This expansion reflects the changing landscape of financial needs and the increasing demand for holistic financial solutions.
- Technology and Digital Engagement: The role of technology and digital engagement has risen when it comes to meeting the evolving needs of investors. Delivering information and advice through digital platforms and social networks improves accessibility and resonates with next gen clients.
- Competition and Market Dynamics: The asset management industry is characterized by intense competition, particularly in the ETF space, with numerous product launches and market noise. The discussion acknowledged the need for asset managers to compete for assets and differentiate themselves in a crowded marketplace.
- Education and Training: Financial advisors require ongoing education to keep pace with industry trends, product developments, and client needs. Firms are investing in practice management, investment content, and client-centric programs to support advisor growth and enhance client outcomes.
Overall, the engaging session underscored the dynamic nature of the asset and wealth management industry, shaped by shifting investor preferences, technological advancements, regulatory changes, and evolving business models. Adapting to these changes requires a focus on innovation, client-centricity, and continuous learning to stay competitive and meet the diverse needs of investors.
Personal views and observations of individuals contained herein are as of the date of the live event or written material and do not necessarily reflect the views of Nicsa or its member organizations. May contain forward-looking statements subject to various uncertainties. Nothing herein is intended to be or should be construed as legal advice. The information contained herein is for informational purposes only and does not constitute a recommendation of best practices.
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