Next Gen Advisory Practices with Mike Alexander
23 April 2021
In this week’s episode, I chat with Mike Alexander, President of Wealth Management for Broadridge. A recent write up in Barron’s highlighted new artificial intelligence technology that the company is working on, as a way to help financial advisors understand their clients better and predict behavior and loyalty to the financial advisory relationship. Mike offered insights about that, and other ways he and his company are working with financial advisors to build future-proof practices.
Digitized Service
COVID accelerated so many trends across industries and the financial advisory business is no different. It forced a new mode of communication for many that will carry through long after lock downs have ended. A new generation of investors are driving this trend at a time when the generation of baby boomers are retiring. The advisor of the future will have to adapt their practices to communicate and interact with investors in the way they are used to, digitally.
Mike shares his thoughts about what he saw through 2020 and how successful advisors are utilizing digital capabilities. Among these capabilities and one Broadridge is helping advisors implement is artificial intelligence. We talked about how that can be added to an advisors tool kit. With the great transfer of wealth underway, Mike offered ideas for what he saw was a great opportunity for advisors to connect with Millennials and the key capabilities required.
Trend or Fad
Listen for Mike’s take on hourly/retainer-based service models, bitcoin, work-from-home and Peloton.
Important Disclosure
This is a marketing communication for professional investors only. Please refer to the UCITS prospectus and to the Key Investor Information Document (KIID) before making any final investment decisions.
This is a marketing communication for professional investors only. Please refer to the UCITS prospectus and to the Key Investor Information Document (KIID) before making any final investment decisions. This information originates from VanEck Securities UK Limited (FRN: 1002854), an Appointed Representative of Sturgeon Ventures LLP (FRN: 452811), who is authorised and regulated by the Financial Conduct Authority in the UK. The information is intended only to provide general and preliminary information to FCA regulated firms such as Independent Financial Advisors (IFAs) and Wealth Managers. Retail clients should not rely on any of the information provided and should seek assistance from an IFA for all investment guidance and advice. VanEck Securities UK Limited and its associated and affiliated companies (together “VanEck”) assume no liability with regards to any investment, divestment or retention decision taken by the investor on the basis of this information. The views and opinions expressed are those of the author(s) but not necessarily those of VanEck. Opinions are current as of the publication date and are subject to change with market conditions. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results. Information provided by third party sources is believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Brokerage or transaction fees may apply.
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