Anytime industry profits reach the average of 38.4% ... it's inevitable that new competitors will emerge.
Private equity is going to play an ascendant role in the maturation of the advisory world.
Anyone who looks around in 2024 could be forgiven for thinking that whatever world the stock market is living in, it isn't occupied by most humans.
Many of the next generation of financial advisors say they're more interested in helping clients who are seeking a financial foothold, than servicing those with established wealth.
The advisory business at this moment in time is in the midst of structural and generational change.
If indexing has been bad for active management, it has been good for holistic planning.
Financial independence only does one so much good if they don't have their physical health.
When one looks around the world, it's easy to see why so many people want to come here.
All year we've been covering the changing of the guard in the advisory profession, and this issue's cover story continues exploring that topic.
Advisors and their clients enjoy a much broader opportunity set than average Americans.
It's easier to help affluent individuals insulate themselves from the world's troubles. But no one is an island.
Just imagine for a second that a PE firm owns a big stake in your RIA and several of your competitors also wants to offer some of its funds to your clients. What could possibly go wrong?
This advisor was grateful to the firm's founders who believed in him and rapidly promoted him to the top spot.
Perhaps boomers and Gen Xers can be blamed for pampering their children but it's getting too late in the game to point fingers.
For reps who left a captive wirehouse or insurance company decades ago, the world has come full circle.
It's clear that the events of the last three years have changed advisors' behavior.
The growth potential of the RIA business is about to be called.
The problems faced by so-called experts in financial markets and politics didn't begin in 2022.
Perhaps the best times to win new clients are during periods of economic and market turbulence.
Americans inclined to feel sorry for themselves could benefit from a quick scan around the world.