Investors have access to a broad range of investment vehicles today, from alts to crypto to private equity. Traditional self-directed brokerage accounts are driving this independence among advised investors who now manage assets outside their primary wealth management account—and outside the guardrails of their advisory relationship. Today, 45% of advised investors keep separate, self-directed accounts at Schwab, Fidelity, E*Trade, Robinhood, and other platforms.

Beyond capturing held-away assets for share of wallet, wealth managers need to introduce digital solutions that help bring outside assets into the human advisory discussion, enhancing holistic risk management and providing a more comprehensive experience between the investor and the digital user (i.e., on the client portal). This is more than simply aggregating these assets. Better client engagement for wealth managers is rooted in creating a digital experience that highlights the benefits to the investor of bringing held-away assets into the center of the advisory discussion.

Key questions discussed in this report:

• How has the perception of investment risk changed among advised investors?
• How can advisors incorporate independent investing behavior into the client discussion?
• What technology is needed to enhance the digital/human engagement user experience for advised clients?
   

Companies Mentioned:

AngelList, Bank of America, E*Trade, eMoney, EquityZen, Facebook, Fidelity, Forge, FTX, Fundrise, Indiegogo, InvestCloud, JPMorgan Chase, Koyfin, Merrill Edge, Mint, MoneyGuide, MoneyPatrol, Morgan Stanley, Morningstar, Personal Capital, Quicken, Robinhood, Schwab, SeedInvest, TD Ameritrade, Rocket Money, Twitter, Vanguard, YCharts, Yieldstreet, Zacks