OAKS, PA — SEI® (NASDAQ: SEIC) has revealed that financial advisors are proactively gearing up for substantial changes to their practices, with many focusing on strategies to future-proof their business models. Insights collected through SEI’s business audit tool show that 40% of advisors are contemplating significant transitions over the next 18 months, including the sale of their practices, mergers or acquisitions, and shifts in key strategic partnerships.
Succession planning and continuity planning have emerged as top priorities, reflecting an industry-wide push to implement structured and sustainable exit strategies. Designed to help advisors gain a clearer understanding of their firm’s strengths and growth areas, SEI’s business audit tool plays a vital role in fueling these decisive actions.
Insights into Industry Priorities
The data highlighted several key trends shaping the future of financial advising. Among respondents, 92% cited growth and scalability as their highest priority, while 80% are focusing heavily on business planning. This includes defining long-term goals, refining strategic direction, and improving management frameworks within their firms.
Operational efficiency is another critical area, with 51% of advisors identifying it as a priority for strengthening their foundations and enabling scalable growth. Meanwhile, 43% are directing investments toward people and culture, aiming to enhance talent acquisition, retention, and leadership development.
Industry Transformation
Shauna Mace, Head of Practice Management at SEI, underscored the significance of these findings, noting that the financial advising sector is undergoing a period of sweeping change. “The financial advisory industry is currently navigating a period of profound transformation, driven by evolving client expectations, technological advancements, and shifting demographic trends,” she explained.
Mace added, “Transformative forces pushing on advisors from every direction make this a pivotal time to assess their practice and help ensure the right strategies and partners are in place.”
Such strategies are more crucial than ever as advisors seek to balance immediate pressures with long-term resilience. SEI’s tool offers actionable insights that empower advisors to confidently prioritize and execute decisions aimed at sustaining their businesses through changing times.
Testimonials from Industry Leaders
Brian Trugman, CFP® of Attitude Financial Advisors, who has worked with SEI since 2013, praised the business audit tool as an essential resource. “SEI’s business audit tool is a quick, clear way for financial advisors to assess key areas of their businesses,” Trugman noted. “SEI’s strategic partnership extends beyond investment management to truly understanding our needs.”
Preparing for the Future
SEI’s insights reveal the imperative for financial advisors to adapt and innovate during this period of transformation. By focusing on growth, operational efficiency, and succession planning, advisors are stepping up to meet both existing challenges and emerging opportunities.
With 40% of advisors planning significant transitions in the coming months and the majority prioritizing scalability and talent development, the industry is poised for substantial evolution. SEI’s data and tools are helping advisors take the necessary steps to refine and future-proof their practices for lasting success.
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