“Mind the gaps” is an apt warning when it comes to key findings in new research from MMI and Aon in the third year of their Advisory Solutions: Expectations and Experiences series. This flagship research study – based on proprietary surveys of both high-net-worth and mass affluent investors and financial advisors across the United States – explores investor and advisor views of the value of investment advice and how it is delivered.
The Q2 2022 edition of MMI-Cerulli Advisory Solutions Quarterly, which provides statistics on the managed accounts industry as of June 30, 2022, is available for download.
Managed account assets declined for the second consecutive quarter in 2Q 2022, falling below the $10 trillion mark achieved in 3Q 2021. This 10.2% decrease in assets dwarfs the losses in 1Q 2022 (-2.7%) as the U.S. economy inched toward recession territory in the second quarter. Despite this decline, managed account assets have more than doubled since year-end 2016.
MMI is pleased to announce the finalists for the 2022 MMI/Barron’s Industry Awards which recognize innovation and leadership in the investment advisory solutions industry. Our congratulations to the finalists and all the firms that were nominated!
Approximately 39% of clients have asked their advisors about cryptocurrency investments, but overall investor interest is limited and declining. Only 14% of investors surveyed in March and April 2022 indicate that they would be very likely to add crypto to their portfolio if their wealth management firm offered it, with 21% being somewhat likely to do so. With investor demand having further eroded since the research was conducted, wealth management firms don’t need to be in any hurry to offer cryptocurrency in the near future.
Despite the industry collectively having spent billions of dollars to upgrade its digital offerings for clients and advisors, considerable work remains to be done. Less than half of investors (45%) are very satisfied with the digital tools offered by their wealth manager. Based on surveys conducted in March 2022, 72% of advisors and 58% of clients prefer simpler, more integrated tools rather than additional features and functionality.
Two positions are currently open at MMI:
Retirement planning is no longer what it used to be as COVID-19, geopolitics, and economic volatilities continue to disrupt livelihoods around the world. Post-pandemic investor attitudes and markets are clearly set to pose new challenges for wealth managers and advisors.
NOMINATIONS ARE NOW BEING ACCEPTED FOR
THE 2022 MMI/BARRON'S INDUSTRY AWARDS
The Q1 2022 edition of Advisory Solutions Quarterly, which provides statistics on the managed accounts industry as of March 31, 2022, is now available for download.
Executive IQTM by Money Management Institute hosted its first Awards and Graduation Ceremony honoring its inaugural cohort yesterday, May 26th. The winners of the program's Capstone Innovation Project were also announced at the virtual event. In collaboration with PwC and Darden, the Capstone Innovation Project was a three-month effort designed to put into practice program lessons taught the previous two terms around technology, digital disruption, leadership and embracing a growth mindset.