Advisors scrambling to keep boomers happy while working to bring in new biz. It isn’t just old age that’s making them cranky.

Retiring baby boomers want more attention from their investment advisors, according to Lafayette, Calif.-based wealth-management technology provider Advisor Software (ASI). The trouble is, most of them aren’t getting it because most advisors simply don’t have time to give them the kind of service they’re after.

There’s the rub

This finding – gleaned from an ASI-sponsored survey of about 100 registered investment advisors (RIAs) in March 2006 – seems to mesh with corollary results showing that boomers, and investors in general, have an active interest in new investment vehicles like exchange-traded funds and hedge funds, even if they don’t know much about them.

“These investors are becoming more focused on and engaged with their finances, requiring advisors to spend even more time advising and educating them,” says ASI president Neal Ringquist. “Consequently, advisors end up spending less time developing new client opportunities, which is vital to their continued success in an increasingly competitive profession.”

ASI, among others

As a result, “Advisors are turning to technology solutions to help drive more efficiency in their business,” says ASI – a company that just happens to provide technology designed to help advisorsdo precisely that.

In fact Ringquist says the dynamic of advisors having to juggle an increasingly demanding clientele with the need to bring in new business is feeding demand for its Client Acquisition Solution (CAS). “The advisors' time is increasingly stretched by the demands of existing clients, and the need to generate differentiating advice to attract new clients,” he says. “The ability to leverage ASI analytics in CAS to construct custom model portfolios, allocate to multiple custom model portfolios uniquely for each client, and present the result to the client in an intuitive way has been a key differentiator for ASI.”

Here’s a link to demo of CAS. –FWR

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