5 Trends That Are Powering Advisor Growth

Envestnet's market intelligence team has identified key themes and trends that it says will power advisor growth and shape the financial advice industry in 2024 and beyond. The team analyzed market data, third-party research and a survey that the firm fielded earlier this year for a report that highlights the evolving landscape of financial advisory services and the increasing role of technology in the sector. "The wealth management market has long faced challenges with fragmented technology and inefficient workflows," Chris Shutler, Envestnet's head of strategic development and market intelligence, said in a statement. "To not only improve service delivery but also stay competitive, it's crucial for firms and advisors to keep pace with these developments, addressing challenges through a holistic, integrated platform." See the accompanying gallery for five trends that are reshaping financial advice, according to Envestnet.