Almost a third (28.6%) of advisers are feeling optimistic about 2023, despite the challenging economic background, says AJ Bell.
According to the investment platform, advisers are placing importance on going “back to basics” on service, with 68% citing quality of service as a critical factor when selecting providers next year.
It ranked far above price reductions (9.1%), innovation to help automate and reduce overheads (7.5%), improved investment choice (6.3%) and enhanced technical support (3.9%) as the key areas advisers want providers to focus on in 2023.
In addition, a fifth of advisers said they will be reviewing their investment proposition, either by changing their inhouse process or through outsourcing.
Mark Rendle, head of marketing at AJ Bell Investcentre, said: “This year has been a particularly challenging environment but as we’ve seen time and again, advised clients are well placed to weather the storm and focus on the long-term thanks to the support of their financial adviser.
“On the whole, advisers are optimistic about the year ahead, and anticipate trading conditions for the financial planning industry are likely to be better or remain the same in 2023. For adviser firms looking to grow their business the message is clear – they want to partner with providers they can rely on to deliver quality of service above all else.
“We recognise how important quality service and support is in helping firms to meet their ambitions and our focus on that will remain paramount – providing high quality service, easy to use products and competitive pricing, allowing advisers to add real value for their clients.”
