Financial Advisors Share Their Predictions for 2021

The development of COVID-19 turned 2020 to an unprecedented year, resulting in significant changes in how we work and live. Since 2021 gets underway, a few of those trends will probably continue, reshaping everything from how we do business to the fiscal landscape.

To put some of those trends in view, we asked a number of our Top 100 Advisors to discuss their forecasts for the year ahead.

Our products:

"My predictions for the business in 2021 are that we'll continue to see a whole lot of consultants and RIA's convert to virtual-based companies and increase their use of email marketing and social media to participate with perfect prospects and customers. I also think that there'll be a good deal of movement of customers firing old advisors that are not delivering excellent service and moving more to fee-only or fee-based versions where customer service is a top priority. And with an increasing number of people left with so much uncertainty with the markets, I believe more people will devote time and energy toward their financing by taking personal finance classes, reading books, or hiring a financial planner to help them make smart money choices in this new world that's emerging." -- Brittney Castro, CEO & Founder of Financially Smart

"Sustainable Responsible Investing (SRI) can mean different things to different stakeholders. Clients realize that combining goal-based investing with social, environmental, and governance-related (ESG) insights can help them align their investments with their values and priorities. More customers expect transparency, require accountability and need to understand how their investment choices affect the many pressing issues, such as climate change, racial injustice, income inequality, etc." -- Marguerita Cheng, CEO of Blue Ocean Global Wealth

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"I feel a large RIA will declare they have allocated a substantial portion ($50-100M) of the publication to Bitcoin. In addition, I believe you will see the wirehouses announce they're finally enabling their advisors to participate with customers about cryptocurrency. Finally, I think in 2021 we'll see a Bitcoin ETF." -- Tyrone Ross, CEO of Onramp Invest

"In 2021, we will see an increased interest in cryptocurrency-related investments and new choices which make investing in digital assets more accessible to the mainstream people. We are likely to see a solid year for worth, small-cap and international stocks. We are going to continue to see consolidation in the RIA space to understand the efficiencies that come with increased scale. And, better and new fintech tools that revolutionize how we provide financial planning!" -- Dana Anspach, Founder and CEO of Sensible Currency

"I think we'll see more personalization and customization of customers' investment portfolios. The main forces of change will probably be widespread adviser adoption of direct indexing and ESG-themed portfolios. If firms decide to ignore what the market is demanding, they do so at their own peril. I also believe there'll be bolstered rules for investment supervision consumer protections regarding their personal finance with the new government." -- Tony Isola, Financial Advisor in Ritholtz Wealth Management

"I think top consultants will see record growth in their company in 2021. Hopefully, America will be recovering from the Coronavirus, and we'll see a lot of individuals seeking expert financial advice. I also think we'll see many consultants continue to operate from home; many customers love the ease of Zoom meetings. Why take the time to drive across town, pay to park, all for something which could be done from the comfort of your own home, or even when you're sitting on a beach someplace exotic." -- David Rae, President and Creator of DRM Wealth Management

Related sources:

https://www.connectpos.com/will-virtual-workplace-change-the-ways-we-go-to-work-post-covid/

https://www.connectpos.com/case-study-departure-thailand/

https://www.connectpos.com/top-4-thailand-payment-gateways/

https://www.connectpos.com/top-5-visual-merchandising-elements/

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