Northern Trust’s ETF business FlexShares understands that the financial intermediary business is undergoing a huge transformation.
Many financial advisors focus on the key baby boomer segment that is approaching retirement. However, moving forward, successful advisors will also be working with younger investors, especially women.
For example, women control over 50% of the private wealth in the U.S. and that figures is expected to climb to 66% by 2020, according to the Harvard Business Review. (See FlexShares PDF)
FlexShares has found that by better understanding the way average financial advisors are changing and adapting to the evolving industry, exchange traded fund providers can become more successful in creating relationships.
Marie Dzanis, Senior Vice President and Head of Exchange Traded Funds Sales and Servicing at Northern Trust FlexShares, believes that a fund provider has to be smart about distribution channels to be able to compete in a maturing ETF industry.
She was happy to share her favorite quote by U.S. politician Adlai E. Stevenson:
“On the plains of hesitation lie the blackened bones of countless millions who at the dawn of victory lay down to rest, and in resting died.”
Dzanis believes that the industry needs to reach out to advisors to create relationships that would help provide beneficial investment opportunities and strategies.
“The average advisor is changing and we need to change the way we connect with advisors,” Dzanis said in an interview.