February 15, 2023 – The wealth management industry continues to evolve from investment management, performance alpha, and retirement services to broader, holistic management of an individual’s entire investment portfolio and balance sheet. This is a major item on the to-do list for organizations and one many years from completion for the vast majority of insurance broker-dealers and bank-affiliated wealth firms. The industry is making notable inroads and developing capabilities to do just that, but advisors that work day-to-day with individual private clients are ultimately responsible for ensuring they are delivered.
This Impact Report analyzes the main drivers and dynamics in play that are transforming traditional wealth practices into agile, holistically oriented financial planning organizations. This report leverages data from a survey of 483 FAs conducted during Q4 2021 across wirehouse, bank BD, insurance BD, national and regional BD, and independent RIA (including hybrids) channels. In addition to crosstabs of the survey data, Aite-Novarica Group also leverages one of its Intelligent Financial Life Advisor Practice score variables to evaluate how delivering holistic advice impacts an advisor’s business.
Clients of Aite-Novarica Group’s Wealth Management service can download this report.
About the Author

Wally Okby
Wally Okby is a Strategic Advisor for the Wealth Management practice at Datos Insights, focusing on international private banking and socially responsible investments. He has covered the offshore private banking space for 10 years while living in Luxembourg and Dubai. His mandate was to provide hands-on investor relations as well as private banking and wealth management solutions to ultra-high-net-worth and...
Other Authors

David Himmel
David Himmel is a Senior Associate at Datos Insights. In addition to broad support for the Wealth Management practice, he produces the team’s regular market sizing and benchmarking reports, and covers how channels within wealth management are evolving and converging. David brings prior experience in research and consulting to Datos Insights, primarily at the intersection of financial services and technology, and...