Advisors Branching Out More And More Each Year

Advisors are marrying technology and their professional expertise to become more like life coaches to their clients.

That was a key industry trend cited by Joann Martin, Ameritas CEO, at an industry leaders forum during today's NAIFA convention general session.

"We are seeing advisors becoming less transactional and more holistic, bringing things together for the whole family," she said.

Colleen Bell, a senior vice president at Cambridge Investment Research, predicted the industry will see "soloists becoming ensembles" as more mergers and acquisitions hit the advisory world.
Martin looked at the increase in combination products as another industry trend.

"We need to break through to consumers so that our products serve many purposes," she said.

Despite a changing landscape, one important thing remains, Martin said.

"We need to get out more - get more people on the street, get out there meeting more people, " she said. "Because we have great products to sell."