8 adviser fears for 2019
The number of single-adviser RIAs continues to grow and regulators are taking notice, said Ron Strobel, founder of Retire Sensibly. He's concerned about what sort of changes that regulators will make in response to some of the non-traditional fee structures employed by these firms. Washington state, for example, has sent out deficiency letters to RIAs offering financial planning for an open-ended retainer fee, arguing that such fees are excessive in the long-term, Mr. Strobel said. He's worried more states will follow suit in 2019.