The Future Of Advice

Seven Traits of Successful Advisors

What differentiates true success?

Excerpts from Nationwide’s seminal study on the evolution of the advisory career, Advisor Authority, identifies the pathways to success. Read the full report here.

In this year’s Advisor Authority study, we’ve interviewed leading subject matter experts to provide you with a deeper understanding of the innovation and issues that matter most. Our experts reveal what differentiates the successful advisors who earn more and manage more AUM. They discuss their approach for balancing short-term initiatives with long-term investments, and they share strategies for driving growth and enhancing profitability.

You’ll find their expert commentary at various points throughout our Special Report, as well as a more in-depth interview with each expert in a dedicated section at the end of this report. Through their innovative solutions and actionable insights, you can adapt to change, stay a step ahead and define your own path to success in today’s advisory career.

7 Traits of Successful Advisors

This Special Report will help you better understand the unique characteristics that allow successful RIAs and fee-based advisors to earn more, manage more AUM and drive change in our industry, year over year. We provide you with actionable insights on how they build and run their practice and help their clients build more wealth.

Curious to know more about the seven traits of highly successful advisors? Here is our punch list. Tap into these trends of the top performers to enhance profitability now—and position your firm for the future.

Stay One Step Ahead
 Year over year, successful advisors prove they’re the ones spotting the latest trends and setting new ones. While successful advisors remain agile and poised for growth, all other advisors tend to stick to the status quo.

To drive greater growth and build a strong base for the future of their practice, successful advisors are targeting a new generation of clients and adopting strategies to retain the heirs of their current clients...

Be A Tech Innovator
Successful advisors recognize the value of adopting new technology. They use it to transform every aspect of the customer experience, from the frontend to the back office, opening the door to a new category of client, offering a new universe of products and solutions—and ultimately gaining an edge over the competition.

Put Clients First
It all begins with a fiduciary standard. By aligning with clients’ best interests, successful advisors earn their trust, deepen the advisor/investor relationship, create greater loyalty—and ultimately bring more assets under management. Putting clients first is the foundation for a thriving practice.

Commit To Exceptional Customer Experience
From the first contact with a new client to daily communications and their annual review, successful advisors are committed to creating exceptional experiences for their clients. Most importantly, successful advisors are leveraging technology to enhance the experience for their clients.

Target New Clients And Retain Heirs
The push for new clients remains a top driver of profits for successful advisors. To drive greater growth and build a strong base for the future of their practice, successful advisors are targeting a new generation of clients and adopting strategies to retain the heirs of their current clients.

Be Bullish On M&A
 Successful advisors understand how to adapt to industry trends like M&A to benefit their clients and the growth of their firm. They believe M&A is increasing year over year and will continue to positively impact their business.

Have A Plan To Protect Your Clients
Virtually all successful advisors have strategies in place to protect their clients against market risk and outliving savings. By thinking ahead and proactively preparing, successful advisors can differentiate themselves, provide exceptional value to their clients and create safe havens in an uncertain world.

 

Read the full report, Advisor Authority, here.