By investing in their support teams’ professional development, advisors may unlock a new capacity for mutually beneficial outcomes and long-term success.

By Matthew Schlueter, Executive Vice President, Operations & Technology Solutions

The demands on financial advisors are increasing. Today’s clients expect broader advice and tighter turnaround times. Many seek holistic planning that extends beyond investments, covering everything from estate planning to insurance coverage and tax optimization, as well as behavioral financial guidance.

The massive transfer of wealth is adding further complexity, as large estates are being divided across multiple heirs, each with their own diverse priorities and needs. Clients now span multiple generations, many of them digital natives, seeking personalized, “always-on” service. Additionally, the advisor population is aging and the talent pipeline is limited, making it difficult to address growing client needs.

Fortunately, artificial intelligence and digital tools are increasingly easing administrative workloads. Not only does this directly help advisors, but it can also create opportunities to rebalance responsibilities, shifting administrative staff into expanded roles.

As support staff enhance their skills and gain credentials, they can take on more of the ongoing client relationship management, portfolio rebalancing and planning, money movement, and goal tracking tasks. This enables advisors to devote increased energy to growth-minded pursuits such as new client acquisition, networking and community engagement.

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