Thanks to all those readers who interacted on Wealth Professional comment boards – your debate has been interesting and valued. Keep those opinions coming in 2014!
The final Comment of the Week for 2013 goes to Jeff Mazzini, who gave thoughtful opinion on the article CEO predicts game changers for 2014.
Connect Financial Service Brokers CEO Paul Tynan predicted the two key factors that will have the most profound impact on the industry over the coming decade. The first is the “almost certain” move away from the institutions by financial planners into the self-licensed environment, and the second is the increasing need for financial planners and accountants to work collaboratively.
Jeff Mazzini said:
“I on the other hand see the two biggest factors having an effect on the industry over the next decade is in fact technology and consumers are getting smarter and many will be able to satisfy their own needs. The issues above re planners, accountants and finance brokers has been a discussion for a few years now and basically if a client has to go from one person to another seeking solutions, then they will end up doing it themselves.
"Social media is a global and powerful platform and many consumers are becoming more open to buying all sorts of products and service online. Also the buying online process is becoming easier and the selling of products and services are also becoming more explanatory. Professional advisors have no choice but to continually up skill themselves as many consumers are already in that phase.”