2020 Independent Advisor Outlook Study
In 2020, independent advisors have experienced challenges in the face of the COVID-19 pandemic.
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Key findings
- Technology presents some challenges for clients, but opportunities for firms overall.
- COVID-19 propelled technology to the top of the operational agenda for independent advisor firms in 2020.
- Operational complexity has increased for many firms
Key findings
- Advisors have unquestionably felt an immediate impact from COVID-19 on their firms. While most advisors (82%) still expect growth this year, almost half (42%) expect lower growth in net new assets this year compared to original projections.
- Advisors see inherent opportunities due to COVID-19. More than half of advisors (57%) believe it has provided a greater opportunity to demonstrate client service and relationship focus.
About the survey
The Independent Advisor Outlook Study (IAOS) is an online study conducted for Charles Schwab by Logica Research. Logica Research is neither affiliated with, nor employed by, Charles Schwab & Co., Inc.
Responses come from 1,347 independent investment advisors who custody assets with Schwab, representing a total of $513B in assets under management (AUM). The study was conducted from August 3 through August 16, 2020.
Media Contact: Meredith Richard
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