A shifting economic and demographic landscape is prompting financial advisors to evolve their strategies, particularly as women are set to control $34 trillion in U.S. assets by 2030. Yet, advisors currently manage a smaller share of female wealth, with many women engaging financial planners later in life. 

Remote work has also changed the profession, with more advisors and clients opting for virtual meetings, while new talent is emerging in nontraditional markets. Advisors are increasingly launching independent RIA firms and exploring complex tax strategies like delayed RMD withholding to better serve clients. 

Building strong, trusting relationships is now seen as more valuable to clients than investment advice alone, according to recent surveys. 

Finsum: As the great wealth transfer accelerates, buying and selling books of business is also gaining importance, with success hinging on transition planning, client retention, and profitability.