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The Out-of-Sync Advisor: Applying Disruptive Innovation to Serve Non-Consumers of Wealth Management Advice

Download the infographic | View the full study on Deloitte University Press

Traditional wealth managers appear to continue to struggle to regain their footing as their market share diminishes. Could the large segment of the mass affluent that does not currently use professional advisors provide a viable path to capture more asset growth for these wealth managers? What new disruptive innovations might be needed to effectively serve the needs of current non-consumers? And how might financial advisors be better enabled to become more in sync with this particular client base?

This paper provides some perspectives on these questions and offers a framework for applying the theory of disruptive innovation to possibly convert non-consumers to profitable consumers of advice. In particular, we discuss the potential for adopting the operating models of multi-family offices to illustrate likely solutions to the problem. Finally, the paper concludes with a roadmap for disruptive innovation in the mass affluent market. View the paper on Deloitte University Press.

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