Financial service professionals across the globe see downward pressure on fees, more stringent regulations and increased competition from robo-advisors as chief threats to their practices, according to new research.
Natixis Global Asset Management discloses this finding its 4th annual Global Survey of Financial Advisors. Natixis commissioned CoreData Research to conduct the study of 2,400 advisors in 14 countries and territories (including 300 in the U.S.) to better understand their attitudes, concerns and practice needs.
More than 8 in 10 advisors polled in the survey (83 percent) say their top challenge is to keep clients from making irrational and emotionally driven decisions (e.g., buy high and sell low) when their investment portfolios drop significantly in value. Advisors view these rash decisions as potentially damaging to their businesses and the financial success of their clients.