Study: Financial Planners at Risk for Meeting Investors’ Future Demands, New Research from FPA and SEI Reveals ​

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​SEI and FPA unveiled new research at FPA Annual Conference 2019 from “Advisory Firms in 2030: The Innovation Imperative,” a study offering insight into how the profession is – and isn’t – anticipating clients’ changing needs and innovation’s role in adapting to these changes. ​​

Key Findings from Advisory Firms in 2030 uncovered:​​

​Planners are too caught up with today to plan for tomorrow. More than half of respondents (55%) cited they have no business plans currently in place. Of those respondents, 42% keep meaning to but haven't gotten around to it, while 18% believe a plan is unnecessary.  

And they haven't truly differentiated themselves or their businesses in any meaningful way. Respondents were asked to select a descriptor that best described their primary differentiator, and more than half of all respondents selected a descriptor that will likely be difficult for consumers to translate into value. Nearly a third (28%) selected "offers life planning and financial planning," followed by "fosters personal connections" (24%). 

Planners aren't focused on adapting their services to meet changing client trends and preferences. Two-thirds of respondents meet with clients in their offices, compared to only 17% who report meeting at a client's residence, and only 9% percent report meeting with clients virtually.  ​​

The 2019 Advisory Firms in 2030 report included eight in-depth, one-on-one interviews with a range of planners, who have  varying experience levels at large and small firms​, was fielded in August 2019.

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Access the 2019 Advisory Firms in 2030 Report!​

If you are a reporter workin​g on deadline and want to interview an FPA representative, please contact:

Ben Lewis

Public Relations Team Leader

Financial Planning Association (FPA)

303.867.7190

[email protected]​

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