Research

Advisors appear to be shifting their time toward areas of their businesses where they potentially add the most value.

The effort to build relationships with existing and potential clients aligns with the communication methods deemed very important by advisors.

Three-quarters of advisors (76%) say their firms are very prepared for the DOL fiduciary rule, while another 21% say they are somewhat prepared.

Nearly three-quarters of RIAs (73%) do not currently offer robo-advice.

RIAs primarily use this alternative investment as a portfolio diversifier (60%), although risk management (40%) and reducing volatility (39%) were also popular answers.

Advisors report their typical clients with variable annuities have, on average, $1.7 million in assets, are 55 years of age and have an average of 13% of their assets in variable annuities.

Advisors still do not believe the DOL fiduciary rule will impact their use of variable annuities.

Advisors are largely divided on how they expect their use of variable annuities to change over the next five years.