The Role of the Advisor Has Never Been More Important


Recorded at the Envestnet Advisors Summit 2022.  Presented by:

Advisorpedia interviewed Mary Ellen Dugan, Chief Marketing Officer at Envestnet, at the Envestnet Advisor Summit in May, 2022.

Related: Delivering The Intelligent Financial Life via Envestnet's Ecosystem


As we've seen in the last, you know, really two years, the role of the advisor has never been more important. And they are being asked questions that run the gamut for financial people's lives. From what happens with retirement. . .

What do I do with savings investing with tax credit? We know what am I doing with my business? So I think the role of the advisor is incredibly complex has only gotten more complex, but they at the end of the day, are the hero to actually making their clients successful and feel comfortable and in their future. We recently did this a national study first time, and we actually did general population and affluent Americans, and really the core it started from what does an intelligent financial life means. So that's really kind of generations.

And what we found a couple things. One, I think, for this conference, and I hope people will be so excited, we're really going to unveil it in June. But a teaser is the advisor, people trust the adviser more than any other source for investing. It's the number one, it's over 75%. It's really impressive. And so I think, but on the flip side of that people are also craving two things. They're craving clarity, they don't know what to do.

And secondly, it's a concept that we talked about that money is technology. And so the digital place and how that interfaces is really important. So for advisors, not either or it's and that's what we're hearing, hearing a lot out there. And what we're going to be talking about, how is the role of the adviser changing because of these demands, both digital and human? You know, I think it's really creating a human digital experience, not being afraid of the digital and technology is really how people are consuming that. They want to be involved. They want a dashboard.

They want to be kept up to speed. But the human part is I'm still turning to an advisor for advice for insight. So I think the big change here is it's not either or it's and don't be afraid of it. We're all embracing technology in new ways, even more than ever before working from home zoom, etc. So I think the real key is, it's got to work together. One is how do I get the information, but the advisors still what the information is.