The Fidelity Investment’s 6th Broker and Advisor Sentiment Index study found out that overall sentiment is at its highest level since the financial crisis, being 7.6 on a range of zero to 10.
It has also been found out that gen X/Y advisors, female advisors, advisors working in teams and those who earned more compensation from fees than from commissions, had higher AUM compared to their peers, making these segments likely to drive the future of the advice business.
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Moreover, compared to the last survey conducted in 2010, notable changes have been found in the top drivers of sentiment, with brokers and advisors more focused on developing professionally and growing their practices.
In the current year, brokers and advisors were seen as to be taking action to generate new business, and placing greater importance on compensation, developing professionally and receiving marketing support.
"Four years after the financial crisis, brokers and advisors are back in growth mode; focused on developing themselves professionally and expanding their practices. By recognizing these shifts in sentiment, as well as key segments poised for growth, firm leaders can help to ensure they are meeting the needs of today’s brokers and advisors, while also positioning their firms for future success," Sanjiv Mirchandani, president of National Financial said. National Financial is a Fidelity Investments company.
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