{"id":22034,"date":"2024-06-20T16:23:09","date_gmt":"2024-06-20T16:23:09","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/06\/20\/we-can-stop-advisor-industry-churn-orion-ceo\/"},"modified":"2024-06-20T16:23:09","modified_gmt":"2024-06-20T16:23:09","slug":"we-can-stop-advisor-industry-churn-orion-ceo","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/06\/20\/we-can-stop-advisor-industry-churn-orion-ceo\/","title":{"rendered":"We Can Stop Advisor Industry Churn: Orion CEO"},"content":{"rendered":"
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\u201cWhat we see is that the amount of time you are saving depends on the degree to which you want to invest in workflow efficiency,\u201d Wolefsen said. \u201cFully outsourcing the investment management piece is particularly powerful.\u201d<\/p>\n

Investors are demanding so much more from their advisors today, Wolfsen said, in part because they are experiencing incredible information access and incredible ease-of-use technology in all the other parts of their lives. They are used to having a wealth of real-time information at their fingertips and the ability to make decisions and changes instantly.<\/p>\n

\u201cAdvisors are being asked to deliver their services in new channels and in new ways, and they are also being asked to deliver more services,\u201d Wolfsen said. \u201cIt\u2019s not just investment advice, but also financial planning, retirement planning, trust and estate work, taxes and more. They are expected to be able to bring it all together into a single, actionable financial picture.<\/p>\n

\u201cThat\u2019s where companies like Orion come in,\u201d she added. \u201cWe can be their technology extension and handle the R&D and development work so they can focus on being great advisors and connecting with clients.\u201d<\/p>\n

Navigating Consolidation<\/h2>\n

Asked for her view on the likely pace of mergers and acquisitions through the end of the decade, Wolfsen said the trend of fast-paced M&A is here to stay, and that will have an effect on peoples\u2019 decisions about where they want to work and \u201cwhat type of advisor they want to be.\u201d<\/p>\n

The headline-grabbing deals remain in the large end of the market, Wolfsen said, with impressive wirehouse corner office teams and the bigger independent RIAs making multibillion-dollar moves. But the activity has also moved to smaller advisors, and those advisors are either being rolled up or they are affiliating with one another.<\/p>\n

\u201cInvestors\u2019 needs are changing, the industry is consolidating and many original founders of these smaller RIAs out there are themselves getting close to that traditional retirement age or even beyond it,\u201d Wolfsen said. \u201cIt\u2019s very dynamic, and it\u2019s a great time to be helping financial advisors.\u201d<\/p>\n

It\u2019s not likely that consolidation in itself will steer people away from the industry, Wolfsen said, but it could change the typical path of a person who ends up working for an RIA.<\/p>\n

\u201cAs the industry scales up, it does get harder to compete based on service,\u201d Wolfsen said. \u201cI think it will become rarer to see people truly going it alone and starting an RIA from scratch. Very likely, they\u2019ll either affiliate or they\u2019ll rely on third-party providers to do a lot of heavy lifting. That means the aggregators will continue to have a vibrant pool of advisors to acquire.\u201d<\/p>\n

Pictured: Natalie Wolfsen <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cWhat we see is that the amount of time you are saving depends on the degree to which you want to invest in workflow efficiency,\u201d Wolefsen said. \u201cFully outsourcing the investment management piece is...<\/p>\n","protected":false},"author":1,"featured_media":22035,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/06\/we-can-stop-advisor-industry-churn-orion-ceo.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22034"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22034"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22035"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}