New generation advisers “much more interested in behavioral aspects of finance”


The next generation of financial advisers are “exciting” because of their new approach to financial planning, said the head of the British and Irish advisory group of Dimensional Fund Managers.

David Jones told FTAdviser that the number of advisers in a single operating group is shrinking because it is a business model “just too complex and risky”, and said the next generation of financial advisers is “exciting” because of their customer-centric approach. .

“You look at people in their late twenties and early thirties moving into the profession, it could be current business owners or future business owners.

“And it’s an exciting development because this generation is very customer-centric, very focused on financial planning, and much more interested in the behavioral aspects of finance than the previous generation maybe.”

He added, “It has become really interesting that the profession of financial planning has become very attractive to young professionals because they recognize that it is exciting to deal with people and solve their problems. It’s very forward looking compared to some of the more traditional professional jobs.

Jones began his career as a financial advisor, joining Dimensional almost 13 years ago. He has headed the firm’s UK and Ireland group of advisers for just under three years, working with a team of regional directors who work with advisers.

Dimensional Fund Advisors is a private investment firm headquartered in Austin, Texas, with offices in the UK, Canada, UK, as well as Australia, Singapore and Japan.

Jones thinks advisers are realizing that their added value is not the management of the investments themselves.

“I think advisers are stepping away from the role of investment managers themselves and saying, let the people who understand the role of real portfolio management do it, which allows us to provide cost-effective service to our clients. “

He added that this created competitive pressures, which lowered prices.

“It’s about helping advisors achieve great results for clients and there are a number of ways to do that, we think we have a very good one. ”

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