Advisors face evolving client needs as tech-savvy investors seek tailored insights and digital solutions
Many Canadians are rethinking how they manage money, facing the dual pressures of uncertainty and market volatility.
Wealth Professional, in collaboration with Morningstar Canada, highlights how investors, particularly younger ones, are planning their financial futures earlier, using digital tools that democratize investing.
This “digital-first” mindset is not simply about convenience; it reflects a deeper shift, with investors managing their portfolios on online platforms, mobile apps, and through robo-advisors, making it a preferred approach rather than a temporary trend.
Financial advisors recognize this shift, adapting to tech-savvy clients who seek more than just basic investment advice. Investors now expect personalized insights, pushing advisors to innovate in their offerings.
According to Morningstar Canada, these expectations will be discussed in their upcoming November 21 webinar, where industry surveys will reveal what modern investors look for in an advisor.
Advisors face unique challenges with today’s clients, who are often well-informed, have clear financial goals, and may view themselves as knowledgeable about investment options.
The article notes that “one in five millennials intends to switch advisors or add new providers,” which signals an openness to change and keeps advisors on alert. Social media’s influence also presents challenges, exposing clients to financial content that may lack accuracy.
Advisors are thus adapting to new communication methods, reinforcing the credibility of their guidance amid influencer-driven financial advice.
Morningstar Canada’s webinar, titled Working with Today's Investor, will delve into effective strategies advisors can employ.
Key approaches include personalized risk assessment, with advisors working to understand each client’s tolerance for risk, providing tailored advice, and helping clients feel secure in any market condition.
By using data-driven insights, advisors can align their recommendations with clients' goals, reinforcing the advisor's role as a trusted guide in the investment process.
Advisors are also encouraged to educate clients on the logic behind portfolio choices, building trust by explaining how their expertise provides an advantage over self-directed methods.
The upcoming session aims to equip advisors with practical tools to thrive alongside today’s independent, digitally-empowered clients.
Participants will gain insights on effective risk assessment, building resilient investment strategies, and confidently communicating the rationale behind their recommendations.
This webinar offers advisors a valuable look into the evolving investor mindset and strategies to engage with confidence.
