The Fortune-500 financial services firm plans to hire nearly 600 advisors by the end of this year across its employee and independent channels, wanting a "younger, more diverse population of advisors" in five key cities.
Schwab's new Advisor ProDirect subscription program will serve as a launch pad for advisors looking to go independent, particularly those managing $50 million to $300 million in assets.
Morningstar says that declining fees saved investors $5.9 billion in fund expenses across ETFs and mutual funds in 2024.
Gallup finds 42% of American adults under 30 are getting financial advice from social media, raising concerns of "misinformation being shared by finfluencers."
Despite a cooling U.S. appetite for ESG funds, AlTi Tiedemann Global reported a 14% revenue surge and a 38% jump in adjusted EBITDA for Q1, while doubling down on its social impact mission for investing.
The $71 billion RIA accuses former employees Ryan Malec and David Weitz of stealing client data and breaching contracts after launching a rival firm in Atlanta.
"It's the Golden Age, we're all blessed that this is where we are, what we do for a living, and that the sun is shining on the transition towards the RIA space," Creative Planning CIO Jamie Battmer said at a forum hosted by Goldman Sachs.
Goldman Sachs' Padi Raphael, Global Co-Head of Third-Party Wealth, said the "door is always open" regarding a potential RIA referral program, as the firm looks to serve the "mega trend" of growing wealth from independent advisors.
Advisors can dodge looming fee compression by offering family office services like property and casualty insurance, explains Elevation Point's Jim Dickson as his firm brings on investment from the Milstein-family backed Emigrant Partners.
iCapital is opening the door for independent financial advisors and RIAs to invest client capital in minority stakes across major league sports teams, a "non-correlated" asset class that's "highly resilient to tariff exposure."
