New Year’s Resolutions for Advisors

Goals Include Framing Value for Clients, Proper Segmentation

OAKS, PA–(Marketwired – Dec 15, 2014) – With advisors optimistic heading into the New Year, SEI (NASDAQ: SEIC) today released its annual list of New Year’s resolutions for advisors focused on fostering growth for their firms in 2015. A recent SEI Quick Poll1 showed nearly unanimous positive advisor sentiment, with almost 96 percent either cautiously optimistic or excited about next year, and 72 percent expecting firm growth in excess of 5 percent.

Advisors identified increasing current client referrals (84 percent), using technology to make their practice more efficient (66 percent), and meeting new centers of influence (60 percent) as their three highest priority areas for improvement in 2015.

“Further growth is forecasted for next year, and while this is a positive trend, it presents a set of challenges for which advisors need to prepare,” said John Anderson, Head of Practice Management Solutions, SEI Advisor Network. “These resolutions identify some of the hurdles that advisors may soon face and offer some advice on how to best move their businesses forward from both a profit and people perspective.”

The full list of resolutions includes:

  • Meet Your Friends’ Friends – Referrals from current clients or centers of influence — such as accountants or lawyers — can be the biggest boon to future business. However, current clients need to know that advisors are more than just the products they sell. Establishing a solid value proposition helps create a clear understanding of the value that advisors add to their clients’ lives, and how others can benefit from the same value.
  • Learn the Technology Trends – The right technology can make advisory firms more efficient, clearing some of the operational clutter that gets in the way of advisor-client interaction. Technology is at times complicated, but the benefits can be significant: fully integrated platforms, back office automation, eliminating manual trading and rebalancing, streamlined work flow processes, easier client communication, better client service, etc. What works for some firms might not work for others. Advisors need to consider whether certain technology is truly helpful, or if the functions the technology is designed to handle still require manual interaction. Advisors should be sure to learn about the specific technology trends that best fit their business.
  • Shape Up Segmentation Strategies – Speaking to current and prospective clients in terms of their interests and goals, as opposed to their assets, will help attract the right clients, build better relationships, and provide more personalized services. All of these lead to a more efficient business model and can help a firm grow more intelligently.
  • Find The Fountain of Youth – Attracting young advisors and investors will help sustain an advisory firm’s growth well past 2015. Millennials now make up 24 percent of the population in the U.S., which means there’s an opportunity for advisors to target and capitalize on the next generation of advisors. Likewise, using the right technology and proper segmentation will attract younger investors, keeping the asset pool fresh.
  • Alleviate Your Succession Stress – With more than half of advisors over the age of 50, now is the time to plan for the future of the business. Planning for the future ensures that a firm has one, and illuminates the right path to get there. Whether it’s selling the practice, acquiring another practice, or transitioning firm leadership, a succession plan helps provide an owner peace of mind regarding the future of the firm.
Planning for the future ensures that a firm has one, and illuminates the right path to get there






About The SEI Advisor Network
The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies, administration and technology platforms, and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 20 years, has over 5,700 advisors who work with SEI, and $45.4 billion in advisors’ assets under management (as of September 30, 2014). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit

About SEI
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of September 30, 2014, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $612 billion in mutual fund and pooled or separately managed assets, including $249 billion in assets under management and $363 billion in client assets under administration. For more information, visit