As asset management has increasingly become commoditized over the past two decades, wealth managers' value proposition has shifted from a narrow focus on investment advice to the provision of holistic advice on all aspects of clients' finances. This transition has already fundamentally reshaped the industry, but much remains to be done before the transition is complete. This keynote will review findings from the 2024 Datos Insights Survey of Financial Advisors and discuss insights from that survey regarding the progress that advisors are making toward the holistic advisory model. Issues to be addressed include:

• Success of different advisory models (RIAs, wirehouses, IBDs) in making the transition to holistic advice
• Impact of the shift to holistic advice on the economics of the wealth business
• Quantifying the benefits of holistic advice to advisors' practices