Advisor Growth From the Consumer Perspective · AdvisorTechBook LIVE 🎙️

Advisor Growth From the Consumer Perspective

Hi there everybody. Joe Moss kindly invited me in to hopefully carry on our side conversation regarding organic growth.

There's a lot of chatter surrounding AI Fintech solving the prospecting problem for advising firms. I think it's worth considering that the problem for consumers is a better problem to focus on.

Consider the following:

1) Generally consumers can benefit from professional financial guidance well in excess of the regular cost.

2) The range of the quality of professional financial guidance is overwhelmingly vast and difficult for the average consumer to navigate.

3) Most consumers don't have the time or energy to research point #2, with a net result that most consumers constantly postpone engaging with an advisor.

4) There is an absolutely massive amount of consumer data for sale, particularly data that is predictive on money in motion (job changes, inheritances, home purchases, etc).

5) Big companies are spending billions to try to use #4 to win business.

6) It's unlikely that the highest bidder on marketing spend is also the best fit for the consumer.

So, the meta question for me is, how do we as advisors encourage consumers to take ownership and initiative to find the right professional for their situation, and appropriately position our services in that universe?

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