Whether you're looking for a new wealth advisor or thinking about taking a more hands-on approach. Here are two ways the wealth advisory industry is evolving in 2025.
The article by Jaime Catmull on Forbes discusses significant changes in the wealth advisory industry as it heads into 2025 and beyond. Key points include the increasing integration of technology, with AI and machine learning being utilized for personalized financial planning and risk assessment. There's a noted shift towards holistic wealth management, where advisors are expected to provide comprehensive services that go beyond traditional investment advice to include tax planning, estate planning, and even lifestyle management. The industry is also seeing a generational shift, with younger clients demanding more transparency, digital interaction, and socially responsible investments. Regulatory changes are pushing for greater fiduciary responsibility, and there's a growing emphasis on cybersecurity due to the digital nature of modern wealth management. Additionally, the article highlights the trend of consolidation in the industry, with larger firms acquiring smaller ones to expand their technological capabilities and client base.
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