Digital Engagement is Differentiating the Most Successful Advisors Practices

A new study from global research and consulting firm Cerrulli Associates finds that digital offerings will not replace advisors, rather they will improve the way that advisors form relationships with their clients and scale their practices. 

The study titled U.S. Retail Investor Advice Relationships 2018: Optimizing Engagement was the subject of recent news articles that can be read here and here 

According to the articles, “digital engagement ‘will be a core component of every firm’s wealth management offering,’ the report says — and Cerulli estimates that total assets in the digital advice segment will reach approximately $295 billion by the end of this year and exceed $1 trillion by the end of 2023.” 

The report also analyzes the impact of fee compression on investor behavior and concludes that while fee compression is a frequent topic of concern among wealth management providers, relatively few investors cite fees as their primary determinant in provider selection. 

Clients today have an increasingly high expectation for the use of technology in financial services yet expect a human to be available to help them along the way.  Advisors leveraging digital tools like Fiduciary Shield by BidMoni with their clients are creating more efficient face to face meetings while improving their relationship management practices.   


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