Standing out in a crowd: The advisor difference

As technology grows ever more complex and capable, a new world of options is appearing for end investors when it comes to choosing how to manage their investments. With the advent of robo-advisors (automated investment services), new lower-cost self-managed investment accounts and other software service-based options, human advisors are being challenged to prove their value in new ways.

Given this environment, advisors need to find ways to differentiate themselves while making sure to manage their own business successfully. Being able to add value to an investor’s desired outcome needs to be balanced against the needs of managing a financial advisory practice across different types of investors.

These challenges can be quite serious, and while being a financial advisor may not require that you run faster than a speeding bullet, there is often demand for superhuman-like feats.    In today's fast moving environment, advisors must be able to address real-life challenges—such as how to:

  • Manage that panicked client who wants to “buy high and sell low
  • Prove the value of human advice versus a robo-advisor
  • Set expectations with a demanding client who carries unrealistic expectations.

Given these challenges, financial advisors may want to find a way to gather some practical tips on running an advisory business.

Gameplay to help tackle real-life challenges of advisors

To help advisors in today’s complex world of investment advice and decision-making, Russell Investments has offered up a digital game experience. This interactive quiz allows advisors to navigate real-life investment and practice challenges and select a preferred course of action. Advisors are classified into one of five categories, based on their responses, to light-heartedly answer: What kind of advisor are you?

The path takes the advisor through a non-scientific analysis of their decision-making style, including “superpowers”, opportunities and risks.  Then there is additional insight and resources provided on how to potentially tackle the opportunities and challenges that were identified in the quiz for advisors.

A look in the mirror

Russell Investments is committed to helping advisors showcase the advisor difference.  An integral step is to identify strengths and weaknesses in an effort to make more higher-quality investment and business decisions.   That's why we encourage advisors to take our interactive quiz to learn more about yourself while gaining insight on how to deepen relationships with clients and structure your business for success.

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