When It Comes to Growth Plans, Advisors Must Make a Decision

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The best options for owner-advisors today are to get larger or get smaller.

By Angie Herbers

Most advisors today know that technology is changing the financial services business. From digital investment to advisory platforms offering advice to consumers, the way most advisory firms do business today is different from how they operated just five years ago.

What many firm owners don’t realize is that changing technology is not a passing phase — it is the future. Not only is the use and functionality constantly changing, its rate of change is perpetually accelerating.

Most importantly, technology is changing the expectations of consumers, including advisory clients. And it’s changing the way they want to get advice and interact and communicate with their advisors, essentially, receiving financial advice on demand.