In just the past decade, the holistic advisory model has emerged as the dominant one in the wealth management industry. Despite the importance of this model to the industry, no one has yet given a close study to exactly how the holistic advisory differs from the (mostly nonholistic) investment-centric model that has been the mainstay of the industry for decades.

This report reviews the convergence of the wealth management industry toward the holistic advisory model and examines how advisors today are implementing this model. The report utilizes data from a Datos Insights survey of 436 financial advisors to analyze how advisors in holistic practices differ from advisors in nonholistic practices, including how they engage clients, the products and services they provide to clients, the composition of their client bases, and the composition of their revenue.

Clients of Datos Insights’ Wealth Management service can download this report.