What’s most important? What’s most relevant to the clients today? All of those issues that you described are omnipresent. STEVE GRESHAM: Well, Bill that was a mouthful and I think that’s of course by design, but I think that’s probably the first issue, right? And so maybe let’s dig into another Einstein theory which is of relativity. It’s kind of based around this theme of at the risk of essentially executing Einstein’s theory of insanity, what’s really next for advisors? More specific, what’s the next opportunities for advisors to be better prepared to meet the ever-changing sentiments and expectations of their clients? So let me start with an overarching basic question. And as you’ve noted in your own work the fact that baby boomer households are aging really means our business will be driven more and more by life events and awkward moments and tough conversations. Things that we’re experiencing in our industry that we probably have never experienced before. And the ever-changing, shifting regulatory environment is also contributing to a fair amount of flux. The digital tsunami is having a major impact on our industry and our lives. We’ll have five generations in the workforce, for example, by 2020. STEVE GRESHAM: Bill, thank you for having me.īILL COPPEL: There’s a lot going on out there Steve in terms of change. He’s also the author of five books about the wealth management industry, including The New Advisor for Life, which examines the qualities clients seek in a wealth advisor and how advisors can best articulate and deliver their unique value. He’s a prolific writer, and his work has been featured in Business Week, Fortune, Invest News, and the New York Times. Steve chairs the advisory board for Cogniscient, a technology company whose mission is to help older adults and their families make the best possible health care and financial decisions. After heading the private client group at the Fidelity Investments he’s continuing his focus on wealth management transformation in a variety of new ways. With more than 35 years in the industry, Steve has been at the forefront of financial services transformation and innovation for decades. We see a unique opportunity for advisors to set themselves apart by more actively engaging with clients to help them prepare for the road ahead. Over a number of our episodes, we’ve been talking about what financial advisors can do to redefine their value to better align with what clients say really matters. This is Bill Coppel and welcome to this episode of The Next Frontier.
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