While emerging challenges to the advisor industry are increasingly evident, there are opportunities to remain competitive and continue to add value. Two such areas of opportunity are technology and alternative investments.
During the COVID-19 pandemic, investors are changing their habits and expectations around what a modern financial services experience should look like. While a year ago, technology may have provided a competitive advantage, today, basic tools are an absolute necessity.
Despite high interest, most registered investment advisors’ clients are under-allocated to alternative investments like private real estate. Advisors are reportedly increasing their use of alts due to increased access, recent public market volatility, and fear of missing out on returns.
With new digital processing technology tools for alternative investments, advisors can skip the paperwork with a streamlined online process. The result is alternative investments that are completed in days instead of weeks, which means a reduction in administrative rework and cycle time for advisors.