North American advisers see increased demand
Investor demand for adviser communication jumped 47% from February to March in North America, according to research from AdvisorStream, highlighting the increased demand advisers are seeing around the world during COVID-19.
The research from the adviser marketing firm revealed clients wanted consistent and frequent personalised contact with their advisers in times of crisis, particularly by email.
Kevin Mulhern, AdvisorStream co-founder and chief executive, said investors were also looking for facts, not fear.
“The volume of electronic communication between advisers and investors during March is unprecedented across the AdvisorStream platform in the US, UK and Canada,” Mulhern said.
“With the increasing daily uncertainty, advisers are stepping up to the plate more boldly than ever to clarify, illuminate and lead the conversation.
“Communication is key. Investors are more inclined to leave an adviser for a lack of communication than they are for perceived bad financial advice.
“Communication, in any form, from advisers is a lifeline for investors in volatile times.”
AUTHOR
Chris Dastoor
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
