Client Best Interest in Wealth Management: 3 Univeris Summit Takeaways for Dealers & Advisors


In Fall 2019, Univeris held its annual Summit in Toronto, Ontario, Canada. The theme was Client Best Interest and the full-day conference featured presentations, breakout sessions, and product demos by leaders from the wealth management industry.

Here’s a round-up of our favourite client best interest takeaways from this year’s conference:

Client Best Interest is Already Here

Client best interest in wealth management has been a topic of conversation in the industry for some time now. While client best interest as a regulatory constraint may or may not happen, it is already trending as a better way to compete. The move to fee-based accounts, for example, is widely viewed as a way for advisors to deliver better outcomes for their clients.

As an industry we should continue to improve the way we do business to remain client-centric⁠, improve the outcomes of investors, and raise the quality of all services. If done right, client best interest can be used to differentiate dealers and/or advisor offers and turned into a great competitive advantage.

Algorithms are Key to Enabling Client Best Interest

Investing is a suite of very difficult decisions. Asset allocation, risk, suitability product selection, and plan selection are among the many factors that could impact the compounding effect expected from the investor experience. While advisors are key to understanding clients deeply, algorithms are the most effective solutions to execute complex tasks and ensure fiduciary-level accuracy and explainability. In particular, in the world of client best interest, there is an important difference that should be drawn between pure suitability and optimality.

To Achieve Optimality, Low Cost Products are a Must

While investment solutions may vary a lot depending on investment strategies, the market is trending toward the inclusion of low cost products⁠—such as Exchange Traded Funds (ETFs) and Platform Traded Funds (PTFs)⁠—to complement the already gaining F-series and other historically popular products.

Offering low cost products is aligned with client best interest in order to achieve optimal results. The industry will continue to innovate by offering fee-for-service models that will create win-win optimal solutions for all.

Want to Know More?

To learn more about technologies that enable client best interest in wealth management, check out our free Client Best Interest eBook.

The post Client Best Interest in Wealth Management: 3 Univeris Summit takeaways for Dealers & Advisors appeared first on Univeris.


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