The latest survey conducted by Wealth Management IQ and Marsh McLennan Agency reveals that the convergence of wealth management and retirement plan advice has largely been accomplished. The survey also highlights key opportunities and challenges for advisors in growing their business and adapting to market demands.
The survey looks at:
- Acquiring new high-net-worth clients remains the top growth strategy for advisors, with 44% of respondents prioritizing this.
- Advisors cite standing out from competitors and increasing business efficiency as top challenges.
- The integration of wealth management and retirement plan advice is nearly complete, driven by client demand for holistic financial solutions.
- Financial wellness programs are becoming increasingly important to both employees and sponsors, contributing to business success.
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