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Clients aren’t necessarily more demanding today than they were 10, 20 or more years ago, but they are increasingly knowledgeable and sophisticated. Helped by the evolution of internet finance, clients have access to an array of sources and tools with which to bone up on saving and investing.
For advisors, that’s a plus because a more educated client doesn’t equate to being a more demanding client, but those checking the curious/educated box are also likely to be more engaged. Active, intellectually clients are also the ones that are likely to expect higher levels of customization. Model portfolios are ideal tools for tailoring the investment experience.
That might surprise some advisors because one of the primary selling points of model portfolios is the benefit of more efficiencies afforded to the advisor. Those efficiencies might infer that model portfolios don’t have the wiggle room for customization when in reality, the opposite is true. Thanks to WisdomTree’s Custom Model Portfolio Builder tool, advisors can harness the perks of model portfolios while delivering on client demands for elevated tailoring.
Time Is Now for Model Portfolio Customization
The aforementioned WisdomTree is suitable for any client retention/prospect conversion environment and it could bear fruit with the coveted high-net-worth crowd.
“In fact, 60% of wealth managers expect their high-net-worth clients to require some degree of personalization either now or in the future,” notes Kara Dombroski, head of business management and strategy at WisdomTree.
Looked at another way, the clients advisors most want to land are clear in their customization expectations. They’re not hiding their desires. If anything, they’re making it easier on advisors to earn their business. Of course, advisors need to have the tools ready to be responsive to client expectations. That’s where WisdomTree’s customer model portfolio builder tool comes and it provides benefits to advisors, too.
“Keeping portfolios aligned with market conditions and client needs is critical—but it shouldn't take up all your time,” adds Dombroski. “Our Investment Team will rebalance and update these portfolios regularly. You will then receive real-time notifications, customizable fact sheets and commentary whenever changes are made, ensuring you're always informed and able to easily communicate with your clients.”
A Tool with Utility
When it comes to model portfolios, advisor adoption is increasing and big names are entering the space, but those trends also highlight the need for advisors to be selective. Remember what you’re doing when evaluating model portfolio options. You’re essentially shopping on behalf of clients.
That’s where WisdomTree’s offering stands out. It’s an avenue for gaining the efficiencies offered by model portfolio while adding in the benefit of standing out from competitors.
“Clients want to feel like their portfolios reflect their unique investment preferences, risk tolerances and financial objectives. Our tool makes that possible,” concludes Dombroski. “In an increasingly competitive landscape, your ability to offer personalized investment solutions at scale sets you apart. With this tool, you can deepen client relationships, increase retention and attract new business by delivering tailored portfolios with ease.”
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