In 2023, smaller watches were popular, and this trend is expected to continue in 2024. Instead of making predictions, how about what's currently happening and what we might see throughout the year. 

Interest in steel watches remains strong despite the focus on smaller, dressier models. Brands are expanding their offerings beyond just sizes, catering to diverse collector interests. 

Special watches continue to fetch high prices at auctions, while more common models struggle. Lastly, there's hope for more transparency from dealers and auction houses in the watch market, as the market starts to swing towards buyers.

Finsum: Rolex’s acquisition of Bucherer was a huge signal for change in the watch market at the end of 2024 and it is starting to be present. 

Independent financial advisors see business growth as their top challenge for 2024, but according to a survey by Interactive Brokers, robust technology and multiple custodial relationships will drive this growth. The survey revealed that 79% of advisors believe automation can free up time for client relationships, while 60% think it helps new team members get up to speed faster.

Additionally, 58% said automation reduces overhead costs. Advisors are increasingly seeking more automation in client account management and onboarding processes. The multi-custodial model is gaining traction, with 64% of advisors using at least two custodians. 

The survey also noted a growing focus on high-interest rate accounts for cash balances. To spur firm growth, advisors are prioritizing marketing, client referrals, and industry networking, with some planning to recruit and train young talent as part of their long-term succession strategies.

Finsum: We see advisors leaning on this combination of technology and personal relationships benefiting the most.

According to a Ficomm Partners survey, today's retirees are the last generation to rely heavily on referrals for choosing financial advisors. Over the next five to ten years, digital marketing will become increasingly crucial for attracting clients.

While 60% of those over 60 prefer referrals, only 17% of those under 44 feel the same. Instead, 57% of younger investors hired advisors based on digital marketing, compared to 20% of older respondents. 

This shift indicates that advisors must adopt a multi-tactic digital marketing strategy to stay competitive, as younger clients prefer researching and making purchases digitally. Additionally, the survey found that no single digital channel was superior; a mix of channels was necessary for effective marketing.

Finsum: Social media literacy is a must to staying in touch with this new generation of investors.