OAKS, Pa., January 3, 2017 – When considering resolutions to enhance their practice and better serve their clients, financial advisors looked at a variety of investment strategies, as well as compliance with the DOL Fiduciary Rule, as top priorities for 2017, according to a recent survey from SEI (NASDAQ: SEIC) Advisor Network. The survey gathered responses from 924 financial advisors, who ranked their top New Year’s resolutions within three main areas – investment strategies, technology and practice management. Compared to New Year’s resolutions from 2016, advisors have the same priorities in all three areas in relation to growing their business, technology and investment strategies with the addition of the dominance of the DOL Fiduciary Rule for 2017. 

Here are the top 10 New Year’s resolutions made by financial advisors: 

1. Get ready to comply with the DOL Fiduciary Rule

2. Build my referral network

3. Increase my clients’ awareness of additional services that they may not know I offer

4. Implement technology workflows to increase efficiencies in my practice

5. Implement a goals-based approach to investing for my clients

6. Conduct more outward-facing marketing activities

7. More contact with clients through email marketing, events and social media

8. Offer more tax managed solutions seeking to minimize tax impact to my clients

9. Explore managed volatility investment strategies to keep up with the ups and downs in the markets

10. Enhance presence on social media

“Every year, financial advisors’ New Year’s resolutions point to ways to grow their businesses, and this year, the addition of the DOL rule to the list is no surprise,” said John Anderson, Managing Director and Head of Practice Management Services for the SEI Advisor Network. “With the major events this past year, such as increasing market volatility, the passing of the DOL Fiduciary Rule and the presidential election, advisors are resolving to create better, more compliant businesses. While investment strategies are lower on the top ten list, they point to ways that advisors can differentiate themselves from robo or retail solutions. We’re glad to see that advisors are eager to focus on goals based, tax managed solutions and managed volatility solutions in 2017.”

The survey revealed that advisors are looking to enhance their investment management approaches for their clients in 2017 in a variety of ways. Just like last year, the number one investment-enhancement resolution for advisors is to implement a goals-based investment approach as indicated by 27 percent of survey participants. Twenty-two percent of advisors said their top resolution is to offer more tax-managed solutions seeking to minimize tax impact to their clients’ portfolios. Meanwhile, following a year of heightened market volatility, 21 percent of advisors responded that they plan to explore managed volatility investment strategies to keep up with the fluctuations in the markets. 

39% of advisors surveyed said they want to build their referral networks in 2017.

In terms of enhancing their practice with technology, 28 percent of advisors surveyed said they plan to implement automated workflows into their technology to increase efficiencies for their practices. Surveyed advisors are also interested in improving their social media profiles and upgrading their client facing website.

Regarding practice management, 39 percent of advisors surveyed said they want to build their referral networks in 2017. In addition, advisors ranked their other top two practice management resolutions for the New Year as increasing contact with their clients through channels such as email marketing, events and social media (31 percent) and preparing to comply with the DOL Fiduciary Rule (40 percent), which tops the list this year.


The financial advisor survey was conducted during the first two weeks in December, 2016, generating responses from over 900 independent financial advisors, representing clients and non-clients of SEI.

About The SEI Advisor Network

The SEI Advisor Network provides financial advisors with turnkey wealth management services through outsourced investment strategies, administration and technology platforms, and practice management programs. It is through these services that SEI helps advisors save time, grow revenues, and differentiate themselves in the market. With a history of financial strength, stability, and transparency, the SEI Advisor Network has been serving the independent financial advisor market for more than 20 years, has over 7,000 advisors who work with SEI, and $55 billion in advisors’ assets under management (as of September 30, 2016). The SEI Advisor Network is a strategic business unit of SEI. For more information, visit seic.com/advisors.

About SEI

SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of September 30, 2016, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $751 billion in mutual fund and pooled or separately managed assets, including $281 billion in assets under management and $470 billion in client assets under administration. For more information, visit seic.com.