Only 10% of firms offer robust training for junior advisors, while a record 21% aren’t even considering a succession plan.
InvestmentNews traveled to Boston, Massachusetts, to cover Schwab's annual conference. All coverage can be found here.
“We’re actually seeing an escalation in M&A activity,” said Eric Godes of FP transitions.
“There is an increasing need for tax expertise,” said Dave Wahlen of Merit Financial Advisors.
“A better tool does not on its own make a better outcome,” said Humanity Labs CEO Andrei Pop.
Latest annual survey of independent advisors shows firms leaning on referrals and service for growth while harnessing AI behind the scenes.
“[Vestmark] bring to us the very scaled sponsor trading,” said Envestnet’s Sue Burton.
“This expansion is an opportunity for us to meet our clients where they are,” said Franklin Templeton’s Dan Muzzarelli.
“It’s been popular – I’m on a plane every other week,” said TCW’s Dhruv Nagrath.
“What AI tools am I using? They need to be clear on that,” said Brock Sutton of Capital Group.
“There’s an opportunity to really help advisors understand these new asset classes,” said T. Rowe Price’s Bill Cashel.
“It is about supporting the advisor to be more effective with their client,” said Vanessa Touma of Invesco.
About a third of ASN’s launches this year have come from the wirehouse world.
More than 6,000 people are expected to attend the event at the Thomas M. Menino Convention and Exhibition Center in Boston.
“Just like everyone else we’re trying to learn to deliver great outcomes to advisors,” said Michael Camp of 55ip.
Steward executives say small succession deals and book buyouts go unreported, tilting RIA valuation data toward big firms.
Private equity needs a public exit for mega-RIAs, ‘or else we have a big problem,’ warns M&A attorney Corey Kupfer.
The staking deal adds another former UBS team to Elevation Point’s roster as serial minority investors hit a record.
First-of-its-kind research finds hybrid RIAs are growing fastest, yet investors working with sometimes-only fiduciary advisors report the lowest loyalty.
Latest DeVoe reports highlights IBDs buying practices and building W-2 RIAs, while an RIA dealmaker say buyers now pay more in equity, not cash.
