Directions 2023: 5 trends in advisor-client relationships for the new year

High inflation, rising interest rates, and recession fears have made 2022 a difficult year. Although stocks have rallied in the final quarter as inflation has started to moderate, the view for 2023 is still uncertain.

As each year ends, we assess how the advisor-client relationship is shifting. And each year, we curate a collection of articles from thought leaders across the industry that can help you prepare for what may lie ahead.

1. 8 Market and Economic Predictions for 2023

The combination of inflation and rising interest rates in 2022 have sparked concerns of a recession, while falling stock and bond prices have pummeled portfolios for much of the year.

The prognosis for the coming year is mixed. Some analysts are predicting recession, and some are forecasting a better year for stocks. offers insights on markets and the economy and looks at how clients might position their portfolios heading into the new year.

2. End-of-year tax planning when inflation is high

The end of each year brings many tax planning opportunities for financial advisors and their clients. This year’s poor market returns and elevated inflation create additional planning considerations for tax, retirement, and insurance planning.

These articles discuss the new standard deductions for 2023 and the implications for your clients' financial planning.

2023 Inflation Tax Adjustments: What You Need to Know

Tax Planning in 2023: Tax Rates and Inflation Adjusted Figures

3. 4 steps for creating extraordinary client experiences

As you look to grow or expand your business in the coming year, offering successful client experiences will become even more crucial. In this article, Julie Littlechild, financial planning advisor and expert on client engagement, discusses four steps that will help build your business and improve your client experience game across the board.

4. Advising the “juggle generation”

While many aspects of the client relationship remain the same, client preferences and desires have changed. Many in the juggle generation (aged 45–54) are struggling, and this impacts how they view their advisory relationship. Almost two-thirds of clients say they have been impacted negatively as a result of the last two years. This article from Absolute Engagement explores this cohort’s needs and concerns.

5. Millennials and Gen Zers are more open to financial advisors as wealth increases 25% in 2021

Millennials’ investments in retirement accounts and Gen Z investors’ usage of brokerage platforms drove substantial growth in wealth among these age groups, according to Cerulli Associates.

Individuals in these cohorts are eager for comprehensive financial advice and are willing to pay for it. Even though they want more out of their financial advice relationship, they have trouble defining exactly what that is. A article examines this dilemma and the implications for advisors.

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