Russell Investments' online game – What kind of advisor are you? – challenges advisors to evaluate approach
Interactive online quiz helps financial advisors navigate real-life investment and business scenarios to learn more about their decision-making styles and access resources to help address key practice management challenges
SEATTLE, September 22, 2015
Global multi-asset manager Russell Investments has launched a new online experience for financial advisors – What kind of advisor are you? – through which they can explore the real-life, day-to-day challenges of working with clients and managing a business. During the course of the game, advisors can step back and consider the best course of action in scenarios that may keep them and many of their peers up at night. Based on the responses to this quick, anonymous quiz, participants are classified into one of five categories and receive a snapshot of their advising and investment decision-making style, along with possible associated superpowers, opportunities and risks. In addition, alongside their personal snapshot result, Russell Investments shares insights and best practices for handling the various situations encountered throughout the online journey.
"While gamification has been extremely popular among consumers, we thought that financial advisors might benefit from it as well. 'What kind of advisor are you?' is designed to be fun, fast and informative for advisors," explained Kevin Bishopp, a director in Russell Investments' U.S. advisor-sold business. "The goal is to provide real-time information and practical advice to help advisors better tackle common concerns, such as how to construct a more tax-efficient portfolio, more effectively manage time and build business scale, as well as work through challenging situations presented by clients and the markets. By answering just a few questions, advisors receive information on potential solutions, resources and best practice approaches."
Some of the scenarios that participants might face in the quiz include:
- Your tax-sensitive client wants to chase yield
- You're trying to determine how to maximize team efficiency
- Your lowest revenue clients take the most time/resources to manage
- A cost-conscious client asks you what you do to earn your fee
- A client asks about robo-advice
"Change is a constant. This is true of virtually every industry," noted Sam Ushio, director, practice management in Russell Investments' U.S. advisor-sold business. "But by anchoring advisors' value proposition on trusted relationships and focusing on sustainability, our clients can better prepare for the demographic and technology-based shifts impacting the advisory landscape, including the growth of the millennial client segment and expanding advice options. We believe that these powerful capabilities help advisors better support their clients' efforts, achieve their desired outcomes and build stronger businesses."
This month marks 30 years of multi-asset investing using model strategy portfolios at Russell Investments. Additionally, for nearly two decades, Russell Investments has supported advisors' ability to enhance profitability and demonstrate their value to clients. Through Russell Investments' funds, advisors can help clients working to meet a variety of goals, from generating sustainable income in retirement to managing taxes. Likewise, Russell Investments' market insights can help advisors manage and respond to client concerns, and its educational tools and practice management insights can help take a practice to the next level, while managing potential pitfalls.
For additional information, visit Russell Investments' Helping Advisors Blog. Recent practice management issues discussed include:
- How a focus on tax management can help uncover hidden assets and build a client base
- Developing and maintaining COI relationships
- The value of younger clients
To take the “What kind of advisor are you?” quiz, visit www.advisorquiz.com. The anonymous quiz is also mobile and tablet compatible.
About Russell Investments
Investing involves risk and principal loss is possible. Investments in tax-sensitive products may be subject to alternative minimum tax.
Russell Investments is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell Investments stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, asset allocation, portfolio implementation and factor exposures to help each achieve their desired investment outcomes.
Russell Investments has more than $265 billion in assets under management (as of 6/30/2015) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell Investments has $2.4 trillion in assets under advisement (as of 12/31/2014). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell Investments traded more than $1.7 trillion in 2014 through its implementation services business. Russell Investments also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, including more than 80 countries and more than 10,000 securities.
Headquartered in Seattle, Washington, Russell Investments operates globally, including through its offices in Seattle, New York, London, Paris, Amsterdam, Milan, Dubai, Sydney, Melbourne, Auckland, Singapore, Seoul, Tokyo, Beijing, Toronto, Chicago, Milwaukee and Edinburgh. For more information about how Russell Investments helps to improve financial security for people, visit russellinvestments.com or follow @Russell_Invest.