2021年财富管理消费者报告（英）-30页_5mb

Wealth Management Consumer Report Summary

Core Content

This report explores the evolving landscape of financial advice in the wealth management industry, focusing on how client expectations, preferences, and behaviors have changed, especially in the wake of the pandemic. It outlines the need for wealth managers to adapt to a new state of advice that is holistic, personalized, and integrated with digital and human interaction.

Main Findings

Client Needs

• Growing Demand for Personalized Advice: Over 52% of clients feel that saving and planning have increased in importance, while 45% see the same for investment and portfolio management.
• Diverse Financial Goals: The top financial goals include growing, planning, and saving for the future. ESG and SRI investments are increasingly important to clients.
• Expectation for Holistic Offerings: Over 56% of respondents want a holistic wealth management offering that includes advice, risk protection, and lending products.

Changing Demographics

• New Microsegments: Younger generations, particularly Generation Z and Millennials, are more likely to seek advice on ESG and SRI, and they are more open to digital and social media-based advice.
• Trust and Alignment: 71% of clients want an advisor whose values and political leanings align with their own. 69% also want their advisor to interact with and consider input from their spouse.

Increasing Demand

• Client Retention and Shifts: 83% of respondents stayed with their advisor in the last year, but 75% would retain their current advisor after inheriting wealth, indicating a strong relationship component.
• Digital and Personal Interaction: Clients want a mix of digital and personal advice, with only 17% preferring a completely digital or completely personal approach.

Competition

• Nontraditional Players: Companies like Google, Apple, and Facebook are now seen as potential sources of financial advice, with 69% of clients trusting them for advice.
• Advisors' Role: Advisors are viewed as portfolio managers by 88% of respondents, raising questions about the value they add beyond returns.

Money in Motion

• Wealth Transfer: Nearly one-third of clients expect to move their money to a new advisor due to intergenerational wealth transfer.
• Economic Impact: The pandemic has made it harder for many clients to achieve long-term financial goals, with 50% of non-retired adults in the U.S. feeling this impact.

Key Insights

• Holistic Advice is the Future: The industry is moving from hybrid to holistic advice, where the focus is on the client's full well-being, not just financial goals.
• Personalization and Context Matter: Clients are dissatisfied with generic advice and expect more tailored and context-aware recommendations.
• Digital Integration is Critical: Technology plays a vital role in delivering seamless, personalized, and intuitive advice experiences.
• Trust and Relationship Building: Trust, shared values, and emotional connection are key to client satisfaction and retention.

How Clients Want Advice Delivered

• Blended Experience: Most clients prefer a mix of digital and personal advice, with 17% favoring each extreme.
• Proactive Engagement: 39% of respondents want more proactive communication from their advisors.
• Integration with Personal Data: Clients value integration with their personal and financial data, as well as a track record of innovation.

The Call to Action

Embracing a New Business Model

• Holistic Advice Offering: Advisors must provide a broader range of services, including banking, insurance, tax, and estate planning.
• Scalable and Personalized Services: The new model requires a balance between scalability and personalization, leveraging data and AI to meet clients' evolving needs.
• Client-Centric Approach: Advisors must focus on the client's overall well-being, not just their financial goals.

Key Tenets in the New State of Advice

• Understanding the Client: Advisors need to deeply understand individual needs, goals, and preferences.
• Integrated Services: Holistic advice should include planning, protection, and products, all delivered in the right context.
• Technology as a Tool: Digital tools must enhance, not replace, the human element of financial advice.
• Proactive and Contextual Delivery: The timing and context of advice delivery are crucial for client satisfaction.

The Way Forward

• Adopt Digital Initiatives: Wealth managers should invest in digital platforms that offer personalized, seamless, and intuitive advice experiences.
• Focus on Client Lifecycle: From acquisition to growth and retention, digital tools enable custom and differentiated services.
• Differentiate Through Holistic Offerings: Firms must evolve their service models to include a broader range of products and advice, tailored to individual needs.
• Build Trust and Connection: Advisors should aim to be more than just financial planners—they should be trusted partners who understand the client’s personal and social context.

Conclusion

The new state of advice in wealth management is characterized by a demand for holistic, personalized, and digitally integrated services. As the industry continues to evolve, firms must adapt to meet the needs of a diverse and increasingly tech-savvy client base, ensuring that advice is not only relevant but also aligned with clients' values, goals, and emotional well-being.