FIG Marketing
  • FIG News
    • Events
    • Press
    • Community Relations
  • Product R + D
  • Marketing + Branding
  • Business Development
  • Industry Insights

FIG Marketing

  • FIG News
    • Events
    • Press
    • Community Relations
  • Product R + D
  • Marketing + Branding
  • Business Development
  • Industry Insights
Business Development

Tomorrow, Today: The Future of Financial Services

written by Nicholas Ross February 28, 2019
Tomorrow, Today: The Future of Financial Services

The future of financial services is here. It simply hasnโ€™t been widely accepted yet.

A usual laggard to innovation, financial services is drastically evolving. Looking back a year, every advisor can construct a quick list of available advancements that alter the way financial advisors and retail consumers conduct business. This year, itโ€™ll be another year of drastic change for financial services.

The Future of Financial Services

Consumers will continue to scrutinize the value aspect of their financial alliances. Technology will add efficiencies in everything from process competencies to the timing of transactions. It’ll even affect the way we communicate with clients in the future of financial services.

Not to mention, demand for solid professional advice will increase as the financial marketplace becomes harder for households to navigate. This requires the financial professional to select optimal relationships for every vertical of their business to continue to offer the best planning, products, and processes to its clientele.

Related: The Quick Guide: What Do Clients Really Want from a Financial Advisor?
woman advisor looking over finance report

Utilizing the best tech and new-age strategies will help continuously adapt.

Wealth Counselors

It used to be effective for financial professionals to isolate themselves into one or two offerings. The insurance agent was a specialist in life insurance. The retirement planner generally offered a few products in and around retirement income. And the term broker or investment professional was commonly used for stock and bonds. However, as we deliver with conviction: the future is now. And the only way to thrive is to continuously adapt.

At Surge, we label the financial advisor of the future The Wealth Counselor™, and theyโ€™ll be the key conduit for all household financial planning. Nothing will get to or from the retail household without them. The Wealth Counselor™ may not offer every household planning need but will know exactly where to go to get the right alliances for their business. The Wealth Counselor™ will have a great opportunityโ€”and responsibilityโ€”to selectively align with the perfect partners for them and their clients. Is that how you envision yourself in the future of financial services?

Related: Your Clients Need These 3 Things

Requirements for Alignment

There are three specific requirements of your broker-dealer (BD), registered investment advisor (RIA), independent marketing organization (IMO), and/or brokerage general agent (BGA). They include guidance and pure recommendations, expertise in products and process, and regulatory and compliance comprehension.

Youโ€™re hired to provide advice. And you remain hired if the client believes the advice is superior to other sources. Growing complexities in todayโ€™s households place greater emphasis on objective guidance and education in specific household planning recommendations. Wealth counselors like yourself must confirm who they choose to work with and through to construct the right solutions for any given plan.

The alliance must be educated and able to be diverse in recommendations. You must not favor any institution. You must remain agile as new facts are discovered in the planning process. Any lesser result may cost timeโ€”and most importantlyโ€”the client relationship. Regularly test your strategic alliances for consistent expert planning output.

man playing chess

It should be strictly strategic when it comes to your alliances.

Retail clients have access to product intelligence with single clicks. From health to hospitality, consumers are conditioned to do their homework. Finance is no exception. Expect clients to come to you with questions and ideas of their own. Not to implement necessarily, but to seek your professional expertise to execute on their behalf. The future of financial services depends on it.

This forces you, The Wealth Counselor™ to ensure your alliances have superb and creative planning knowledge in their respective fields. You should never feel they you need to question outputs or be required to seek second opinions. You should have as much confidence in your strategic alliances as your own staff.

Related: Artificial Intelligence Boosts Your Business Smarts

Regulation is Here to Stay

Regulation and a client-centric authority are here to stay. Most of you will confidently state that you have and always will remain client-centric in all conduct and recommendation. That doesnโ€™t mean regulators will agree and not fight for continued consumer protectionary methods and rules. This’ll be costly for your business and require you to continuously adjust business practices and processes.

Your alliances shouldn’t only fully understand adjustments, but they should also be able to swiftly enact changes that make regulatory adjustments easy on your business model and protect you from issues. Some alliances may provide you with expert counsel on rules and regulation, while the best firms will be there with ongoing resources and processes to help make conducting business simplistic.

Welcome to the future of financial services.
Welcome to tomorrow, today.

As you decide how and whom to conduct business with, be certain to have a plan for your selection and ongoing diligence. The future of financial services will get easier in some ways and tighter in others. As you face your valued client base, be certain you have the very best behind you.


Do you have what it takes to be a Wealthย Counselor™?

Surge Business Consulting engages financial professionals to create tailored business solutions to maximize growth in their respective businesses. Through a unique ’20/20 process’, Surge holds itself and the Wealth Counselor™ accountable for reaching new heights together.

Learn more by visitingย www.surgebc.comย 


ยฉSurge Business Consulting 2019.ย  All Rights Reserved.ย  The thoughts and opinions expressed herein are those of its authors only.ย  This is not tax or legal advice.ย  This article is for educational purposes only.ย  Written exclusively for Financial Independence Group.ย  This article shall not be circulated without expressed written permission from Surge Business Consulting or Financial Independence Group.ย 

Tomorrow, Today: The Future of Financial Services was last modified: August 8th, 2019 by Nicholas Ross
business consultingBusiness DevelopmentClient RelationssurgeTechnology
0
LinkedIn Facebook Twitter

You may also like

Next Generation Now!

February 18, 2021

How To Be Brilliant On Your Next Hire...

February 11, 2021

David McKnight’s Tax-Free Income for Life Book Summary

February 4, 2021

Financial Planning for Women: Navigating the Gaps

January 28, 2021

Ways to Get Clients Thinking About Multi-Generational Wealth...

January 14, 2021

4 Quick Tips to Generate Referrals from Existing...

January 7, 2021

5 Financial Resolutions for 2021 [Client Infographic]

December 28, 2020

Why Care Planning is Vital to a Financial...

November 30, 2020

What Performance Reviews & Gutters Have in Common

November 23, 2020

Become an Effective Long-Term Care Planner in 3...

November 17, 2020

Keep in touch

Facebook Twitter Instagram Linkedin Youtube

BLUEPRINT SUBSCRIPTION

Enter your email address below to subscribe to this blog and receive notifications of new posts.


Thank you for subscribing!

Suggested just for you

  • What are the Charges Deducted from Indexed Universal Life Policies? [Infographic]
  • The CARES Act: RMD Waiver FAQs
  • Imagine The Future Of Life Insurance Illustrations
  • The 4 R's of Managing a Successful Business
  • Industry Insights
  • Next Generation Now!
  • David McKnight's Tax-Free Income for Life Book Summary
  • Is the Boutique Business Model Just a Trend?

Tags

40th Anniversary advisor marketing Alphastar Capital Management annuities Annuity Annuity Awareness Month branding business consulting Business Development business management business tips Care Planning Case study client communication Client Relations client relationships compliance Digital marketing DOL financial advisors Financial Independence Group fintech Fixed indexed Annuities infographic Investment and securities IUL life insurance Life Insurance Awareness Month Long term care LTC LTC Awareness Month marketing tips office systems Press Release prospecting recruiting Retirement sales idea Sales tips social media surge Surge Business Consulting talent solutions Technology website

figmarketing

IMO/FMO Offering #Annuities, #LifeInsurance, #CarePlanning & #DisabilityInsurance
โ€ข
๐Ÿ“ž (800) 527-1155
โ€ข
โฌ‡๏ธ๐ŸŽ™๏ธ Retirement Inside Out Podcast

Financial Independence Group
Let love rule today and always. Happy #ValentinesD Let love rule today and always. Happy #ValentinesDay to you and yours! ๐Ÿ’˜
๐Ÿšจ New episode! ๐Ÿšจ Sheryl J. Moore, the chief ๐Ÿšจ New episode! ๐Ÿšจ

Sheryl J. Moore, the chief storyteller at Wink, Inc. and president and CEO of Moore Market Intelligence, joins us on #RetirementInsideOut today.

She's providing some fresh new outlooks on:
โ€ข How rate changes are affecting #FixedInsurance
โ€ข The regulation changes that'll affect the industry going forward
โ€ข Why #Annuities are becoming a hot-ticket product

๐ŸŽ™๏ธ Tune in wherever you go for podcasts or click the ๐Ÿ”— in our bio!
Have you heard our #RetirementInsideOut podcast wi Have you heard our #RetirementInsideOut podcast with @mkitces yet?

We tackle:
- Landing new clients
- Todayโ€™s fast-changing environment
- And a possible retirement dilemma?

Tune in now wherever you listen to #podcasts or click the link in our bio! ๐Ÿ”— 
โ€ข
โ€ข
โ€ข
#FinancialPlanning #FinancialProfessionals #FinancialPlanner #FinancialIndependence #Retirement #RetirementPlanning #RetirementGoals #NewPodcast #Podcast #Podcasts
Join us today in honoring the life and legacy of D Join us today in honoring the life and legacy of Dr. Martin Luther King Jr. #MLKDay
WE. ARE. LAUNCHED.

๐™๐™š๐™ฉ๐™ž๐™ง๐™š๐™ข๐™š๐™ฃ๐™ฉ ๐™„๐™ฃ๐™จ๐™ž๐™™๐™š ๐™Š๐™ช๐™ฉ is our all-new podcast that dives deep into thoughtful discussions about how you can meet and exceed the demands of todayโ€™s retirement industry.

Listen to our first guest episode with @mkitces today!

๐—ฆ๐˜‚๐—ฏ๐˜€๐—ฐ๐—ฟ๐—ถ๐—ฏ๐—ฒ ๐—ป๐—ผ๐˜„ ๐˜„๐—ต๐—ฒ๐—ฟ๐—ฒ๐˜ƒ๐—ฒ๐—ฟ ๐˜†๐—ผ๐˜‚ ๐—น๐—ถ๐˜€๐˜๐—ฒ๐—ป ๐˜๐—ผ ๐—ฝ๐—ผ๐—ฑ๐—ฐ๐—ฎ๐˜€๐˜๐˜€!ย ๐Ÿ‘‡

Apple Podcasts:ย apple.co/3qgG8t8
Google Podcasts:ย bit.ly/35Csw3p
Spotify:ย spoti.fi/3smt0Ve
Stitcher:ย bit.ly/3qgHJip
Amazon Music:ย amzn.to/3bA64eV
TuneIn:ย bit.ly/3sm2U4B
โ€ข
โ€ข
โ€ข
#FinancialPlanning #FinancialProfessionals #FinancialPlanner #FinancialIndependence #Retirement #RetirementPlanning #RetirementGoals #NewPodcast #Podcast #Podcasts
Hey, we did it. We got past 2020 together. Here's Hey, we did it. We got past 2020 together.

Here's to fresh starts and a new year! Welcome, 2021. ๐Ÿคฉ ๐ŸŽ‰  #HappyNewYear
Season's greetings from FIG! We hope you and your Season's greetings from FIG! We hope you and your family have a #MerryChristmas and a happy holiday season! ๐ŸŽ„ โ„๏ธ ๐ŸŽ…
Gobble, gobble, eat 'til you wobble! ๐Ÿ˜‹ ๐Ÿฝ๏ธ Gobble, gobble, eat 'til you wobble! ๐Ÿ˜‹ ๐Ÿฝ๏ธ 
โ€ข
We hope you and your family have a safe and healthy Thanksgiving this year! ๐Ÿฆƒ #HappyThanksgiving
Our latest Connections magazine has the info and i Our latest Connections magazine has the info and insights you can use to keep your firm growing into 2021 and beyond. Head to FIGMarketing.com/Blog now to read!
Want to take advantage of all #ContentMarketing ha Want to take advantage of all #ContentMarketing has to offer your business, but too busy to write it yourself? Contact your private client group or head to the FIG Agent Portal to learn about our all-new ๐™ˆ๐™ค๐™ฃ๐™ฉ๐™๐™ก๐™ฎ ๐˜พ๐™ค๐™ฃ๐™ฉ๐™š๐™ฃ๐™ฉ ๐™‹๐™–๐™˜๐™ ๐™–๐™œ๐™š๐™จ ๐™›๐™ค๐™ง ๐™‡๐™š๐™–๐™™ ๐˜พ๐™–๐™ฅ๐™ฉ๐™ช๐™ง๐™š!
Load More
  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Youtube

Financial Independence Group, Inc.ยฎ
1-800-527-1155

Our Products Are Strong, But Our Strength Is In Our People.ยฎ

Privacy Policy | Terms of Use

ยฉ 2020 Financial Independence Group, Inc. All Rights Reserved.


Back To Top
Subscribe to the FIGย Blueprint

Enter your email address below to receive content as soon as it comes out.

Thank you for subscribing!