Industry Update on 2022: 11 Trends Destined to Impact Advisors and Their Businesses

With Louis Diamond

2021 was an extraordinary year for the wealth management industry. Despite the waning shadow of the pandemic, advisors set new trajectories on the revenue side, while creatively serving clients and managing their business lives.

Yet this success was set amidst a confluence of events that positioned advisors securely in the driver’s seat this year. On the one hand, brokerage firms have been slow to acknowledge just how frustrated many of their advisors are with the status quo.

While on the other, leaders outside of this world continued to pay close attention to what advisors value most – freedom, flexibility and control – and responded by creating exciting new firms and models that match advisors’ needs. The result was increased competition for top advisor talent that fueled a true “seller’s market” in 2021.

In an annual article for WealthManagement, we explored the 7 trends of 2021 and their impact on the industry at large—as well as the foundation laid for the coming year.

So how do we expect this “seller’s market” to color the new year? There are 11 potential areas that are already showing strong signs for 2022.

In this episode we look at:

1.????The impact of the pandemic: Will it last?

2.????Advisor movement: Will the record levels continue?

3.????Retention deals: How will they influence those who stay and those who move on?

4.????Record revenues: Will they drive up deals?

5.????The Protocol: Will Merrill pull out?

6.????The new disruptors: How will they drive change?

7.????Goldman’s custody play: Will it be the game-changer advisors have been waiting for?

8.????The traditional broker dealer space: How will their evolution change the landscape?

9.????More IPOs: Who might be next and why?

10.?The expanding role of crypto: What models will be affected most?

11.?Giving up some ownership: Will advisors be more willing to do so?

Plus, what we anticipate will be the driving theme of 2022.

Listen in for a glimpse on the future—and thoughts on how you can prepare for what lies ahead.

Related Resources

5 Reasons Why You Should Mess with Success - Amid a banner year, it may feel counterintuitive to even think about disrupting momentum—but it may be wise to do just that. Read->

Merrill’s Project Thunder - Do the Rumblings from Advisors Indicate an Approaching Storm? Read->

The Real Cost of “Waiting it Out” - Why Holding Out for the “Ideal Time” to Make a Move May Not be the Best Idea. Read->

An Update on Wirehouse Recruiting - Why Recent Activity May Signify Changes at the Firms. Read->

Why advisors in “growth mode” are sacrificing momentum to change firms or models - It seems to be counter-intuitive for an advisor or team who may be riding the wave of their “best year ever” to change jerseys or break for independence. Yet it’s happening in record numbers. Read->

Mega-Moves - What’s Driving the Movement of Advisors and Teams Managing a Billion or More? Read->

A Goldman Sachs Play in the Custody Game - What Could This Mean for Advisors and the Industry At-Large? Read->

A Look Back at 2021 - 7 Trends That Indicate it’s a Seller’s Market for Advisors and Independent Business Owners. Read->

How “The Year Unlike Any Other” Will Reshape Wealth Management in 2021 - No one could have predicted what 2020 had in store for us, yet through it all, many advisors are finding themselves better off because of it. How is that possible? Read->

You can also listen to the full episode on our?website, as well as on?Apple Podcasts,?Google Podcasts,?Stitcher?or?Spotify.