The Bank Insurance & Securities Association’s annual conference began Sunday afternoon and the general tenor in the opening sessions was one of guarded optimism.
With some fairly significant caveats, there was hope that the bank channel will see better days ahead this year. First, though, it has to get through the current doldrums, which were described more than once as “choppy waters.”
In fact, he said that there aren’t many internal signs of economic slowdown in the U.S. remaining. Rather, the biggest concerns are potential external shocks, such as the price of oil and turmoil in the
One strategy for advisors that will become key is segmentation of their books of business, he said. There are some major segments currently underserved (he cited
He predicted that clients will want to have more involvement with their investments in the future. He also predicted that advisors in the future will be more focused on relationships and less focused on products. And they will be more tech savvy, as opposed to feeling threatened whenever a client uses the Internet.
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