Krawcheck expressed her opinion on the advisors and their clients and the firms they work for to the conditions of the market situation as well as involvement of young advisors and women in the Wall Street.
She said that though clients like, trust and admire their financial advisors, the firms they work for is not on the top list of the clients.
Regarding the firms she said most of the clients were disappointed by the advisor’s institution. "They don’t feel like they’re being heard," she said.
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She added that the client trust with their advisors has returned to the levels they were at before the financial crisis of 2008 and the percentage of advisors losing clients remains in the low single-digits for any given year.
Krawcheck said that there was a need to diversify from investment performances and get into financial planning and client service as well.
"We’re still not talking enough about planning and liquidity management, and protecting against the downside," she said. "Surveys indicate that investors want their advisers to help them with a financial plan and they want them to return their phone calls."
Krawcheck also expressed her opinion of involvement of women in the Wall Street and giving way to young investors.
She said that the industry has not matured much in 25 years she has been with it. When she atsrted out in the industry it was hard for a female to make her mark and the situation has not improved much.
Women make up 16 to 17% of advisors in the industry today and in senior management positions, the number is smaller – about 15%.
"Our industry does not do a great job for women. We do have large groups of people – women – who are underserved by our business."
