As 2021 winds down and a new year looms, what’s on the minds of wealth managers and investment advisors? One way to get a read on the issues that matter to them, or at least spark their curiosity, is a review of the most popular blogs our advisory team posted over the past year. So, without further ado, we present the top-of-mind topics that generated the most hits on our blog site in 2021.
1. The New Ad Rule: Opportunities and Challenges
Advisors want clarity on the SEC’s new advertising rules enacted in May 2021. The commission has adjusted to the era of digital communications, when “word of mouth” travels electronically more often than not. As a result, advisors can now post client testimonials, non-client endorsements, and review site ratings within certain disclosure requirements. But they must continue to exercise caution against misleading claims, selective performance results, and less-than-candid risk disclosures.
2. Making Insurance Part of Your Client’s Financial Plan
More advisors are looking for ways to diversify and differentiate their offerings and advise clients on their full financial lives. SS&C Advent has introduced a turn-key insurance marketplace that enables advisors to take a much more active role in their clients’ insurance decisions while opening up a new revenue stream.
The big challenge of the pandemic shutdown was how to stay connected with clients and relevant in their lives without the benefit of in-person contact. This blog explored a variety of tools advisors can leverage to achieve those goals – and why a digital strategy will continue to make a difference even as we return to more normal human interaction.
4. Where Wealth Tech Is Headed
Tech analyst firm Celent does a great job with its annual forecast of wealth management technology trends. We reviewed their 2020-2023 analysis and pulled out what we considered the most interesting highlights, which are still relevant heading into a new year.
5. Reinventing the Business with Black Diamond
This blog shared how one firm set out to transform itself from an investment manager to a comprehensive wealth services provider – and cites the Black Diamond® Wealth Platform as the “catalyst” that made it possible. By leveraging the full functionality of Black Diamond beyond just reporting, the firm was able to better engage clients with a more modern, digital experience.
The past year showed the remarkable resiliency of the country, the economy, and the wealth management industry. However, the digital transformation of the industry is just getting started. In the year ahead, the team behind Black Diamond will continue to help clients navigate and reap the benefits of rapid technological innovation.
To learn how the Black Diamond Wealth Platform can support your advisory firm, request your personal demo, call 1-800-727-0605, or email info@advent.com.
