Subscribe

Increasing costs hitting financial advice industry 

Expenses are rising: LPL Financial said in October that its core general and administrative expenses were up 15% year-over-year.

Rising costs of acquisitions, higher salaries for employees, and competitive recruiting bonuses for financial advisors, along with the record spike in interest rates, are making it more costly to run large wealth management enterprises. Some are wondering whether that will result in either layoffs a

Subscribe or log in to read the rest of this content.

Related Topics: , ,

Learn more about reprints and licensing for this article.

Recent Articles by Author

Cambridge’s new RIA sets floor to make a deal

'The advisor wants to get out of the business at 65 or 70 but clients will live to be around till 90, says one banker.

Why are senior JPMorgan execs ‘jumping’ to Wells Fargo?

Senior industry executive poses the question after latest switch, this time in investment banking.

SEC slaps ex-advisor with subpoena – again – over alleged cherry picking

'An advisor can only blow off the SEC for so long,' said one industry executive.

Blackstone REIT in media cross hairs over valuation

Sketchy math dogs private market investments sold to retail investors.

After losing arbitration, brokers file bankruptcy

"Another schlocky broker-dealer gets hit with an arbitration award and the owner and everyone else declare bankruptcy," said one attorney.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print