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July 29, 2005 |
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Advisors Urged To Target Key Markets |
Targeting specific markets will become increasingly
important for advisors as the baby boomer generation continues to age,
according to a new report.
Tiburon Strategic Advisors says in its "Consumer
Wealth, Target Markets & Marketing Strategies" report that the
competitive playing field for advisors is getting crowded as the demand
for advisors increases.
That, according to the report, will compel advisors to develop strategies for specific target markets.
Among the report’s highlights:
• Baby boomer retirements will
increase consumer investable assets from $17 trillion to $30 trillion
by 2010.
• The IRA rollover market is
booming and has led to the IRA market becoming 25% larger than the
401(k) plan market.
• Consumer satisfaction with
their primary advisor is decreasing, with nearly one quarter of
consumers being dissatisfied
with their primary financial advisor.
• Nearly half of all investors are considering changing their primary financial advisor.
• Spending time with clients is a
key indicator of success, but only 10% of advisors spend the majority
of their time with
clients in person or on the phone.
• Investors want to take a more active role in the decision-making process.
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CONFERENCES
Dorothy 
