PHOENIX, Oct. 28, 2020 /PRNewswire/ -- Advisor Group, the nation's largest network of independent wealth management firms, today announced the launch of My Mentor Connect, a networking platform that enables financial professionals and members of their staff to seek out and match with peers across the Advisor Group network. The launch was announced on the second day of Advisor Group's national virtual conference for financial professionals, ConnectED Canvas, along with the results of a new survey, sponsored by Advisor Group, on investors' relationship with money.
Greg Cornick, Advisor Group's President, Advice and Wealth Management, said, "My Mentor Connect is another example of Advisor Group's commitment to investing in the technology, programs, and platforms that fuel our financial professionals' growth. The platform empowers financial professionals and their team members to leverage the expertise of our entire network, whether they are seeking counsel on a particular business objective or interested in establishing a long-term mentorship relationship. Our financial professionals consistently tell us how much they value learning from their peers, and we are proud to foster and facilitate these connections with this new platform."
Mr. Cornick continued, "We are also pleased to share the results of a national consumer survey, 'Investors' Evolving Relationship with Money,' which sheds light on how investors are grappling with the uncertainty of the current environment. The insights help our financial professionals better understand their clients' evolving preferences and concerns, and the nuances of those in each generation they serve."
My Mentor Connect
My Mentor Connect leverages technology to make it easy for financial professionals to find the ideal mentor or mentors and establish and build valuable mentoring relationships. The platform can be used by early-career professionals to find guidance and insight in specific practice areas that will bolster their growth, as well as by more experienced financial professionals who are looking to give back and learn more about rising generations of investors, or even to identify potential succession planning partners.
My Mentor Connect allows would-be mentees to create profiles that list their contact information, characteristics of their businesses, location and areas in which they are seeking mentorship. They can then use the platform's search and filter functions to identify potential matches among the pool of participating mentors, request a connection and reach out to coordinate an in-person or virtual meeting.
Depending on their goals and objectives, the mentor and mentee can decide whether they will have a one-time meeting, an ongoing mentoring relationship or any flavor in between. The platform provides resources to facilitate productive interactions, such as toolkits that lay out guidelines and responsibilities as a mentee or mentor; guides on how to set goals; lists of helpful books, articles and online resources; and best practices for effective meetings.
Results of Survey on 'Investors' Evolving Relationship with Money'
The survey 'Investors' Evolving Relationship with Money' was sponsored by Advisor Group and conducted by 8 Acre Perspective and ULICNY Financial Communications in July. The survey queried 2,222 investors with at least $25,000 in invested assets on how their attitudes on money, saving and investing have shifted during the COVID-19 pandemic.
The survey provides useful guidance to the wealth management industry about how to best assist investors during this unprecedented time and identifies opportunities to further improve the service experience financial professionals offer.
The survey found that:
- 75% of investors report their financial situation is as good as or better than before COVID-19, and about the same proportion have not made changes to their portfolios.
- Despite this, they tend to feel more anxious about their finances since the pandemic. Just 30% have a positive outlook on the U.S. economy in the next 12 months, and 26% have anxiety about their finances.
- Meanwhile, investors now are spending up to 400% more of their time than before the pandemic reviewing investment documents, following financial news and discussing investments with family and friends.
- Investors with a financial plan are more optimistic. The survey found that 57% of investors with a formal financial plan have a positive outlook for household finances over the next 12 months, compared with 39% for those who do not have a financial plan.
- Investors of all ages want combined human and digital guidance. About 70% of respondents said they wanted human advice.
Jamie Price, Advisor Group's President and CEO, said, "Investors are experiencing an unprecedented combination of events during this pandemic, in which the strong performance of public markets belies a looming sense of anxiety over the uncertain outlook for the U.S. economy and investors' own financial future. We are leveraging the survey's insights as we continue to invest in and implement the tools, solutions and platforms our affiliated financial professionals need in order to continually serve their clients, regardless of their generation, more effectively and efficiently."
ConnectED Canvas Day Two
The second day of Advisor Group's virtual national conference for financial professionals, ConnectED Canvas, features a conversation with former Federal Reserve Chairs Ben Bernanke and Janet Yellen, moderated by Phil Blancato, President of Ladenburg Thalmann Asset Management, a wholly owned subsidiary of Advisor Group.
In addition to the discussion with the former Federal Reserve chairs, the second day will also include a wide range of industry experts and thought leaders commenting on key issues that influence financial professionals' businesses.
The day will conclude with a performance by celebrated magician, America's Got Talent winner and Vegas headliner Shin Lim, as well as a demonstration by master mixologist Rob Floyd on how to craft a specialized cocktail.
Advisor Group President and CEO Jamie Price said, "Our groundbreaking virtual ConnectED Canvas event has generated tremendous positive feedback from attendees so far, leveraging advanced collaboration technology to bring together our entire financial professional community, nearly 7,500 attendees, to hear from respected leaders like Ben Bernanke and Janet Yellen. Developing engaging events as well as innovative platforms, products and services to drive the growth and success of our financial professionals remains our only priority."
About Advisor Group
Advisor Group, Inc. is the nation's largest network of independent wealth management firms, serving approximately 11,100 financial professionals and overseeing over $450 billion in client assets. The firm is mission-driven to support the strategic role that advisors can play in the lives of their clients. Cultivating a spirit of entrepreneurship and independence, Advisor Group champions the enduring value of financial professionals and is committed to being in their corner every step of the way. For more information visit https://www.advisorgroup.com.
Securities and investment advisory services are offered through Advisor Group, Inc. subsidiaries, FSC Securities Corporation, KMS Financial Services, Inc., Royal Alliance Associates, Inc., SagePoint Financial, Inc., Triad Advisors, LLC, Securities America, Inc., and Woodbury Financial Services, Inc., broker-dealers, registered investment advisers, and members of FINRA and SIPC. Securities services are offered through Investacorp, Inc., Securities America, Inc., and Securities Service Network, broker-dealers and members of FINRA and SIPC. Advisory services are offered through Arbor Point Advisors, LLC, Investacorp Advisory Services, Inc., Ladenburg Thalmann Asset Management, Inc., Securities America Advisors, Inc., SSN Advisory, Inc., and Triad Hybrid Solutions, LLC, registered investment advisers. Advisor Group, Inc. is a holding company. Advisor Group, Inc. is separately owned and other entities and/or marketing names, products or services referenced here are independent of Advisor Group, Inc. 20 E. Thomas Rd., Ste. 2000, Phoenix, AZ, 85012. 866.481.0379
SOURCE Advisor Group