Future for RIAs bright and challenging

From the outside, the independent financial advisory space appears to be flush with clients, assets and profitability, thanks in large part to a record run by the stock market. A closer look, however, shows some business-level vulnerabilities, including a declining client-acquisition rate, rising technology challenges and near-constant pressure on fees. For a look at what's on the table and what's ahead for registered investment advisers, InvestmentNews spoke with Matt Brinker, chief business development officer at United Capital Financial Partners, a $21.2 billion RIA with 86 offices across the country. As Mr. Brinker sees it, the future of the RIA space is both bright and challenging, and not having a solid plan for navigating the next few years is a mistake. (More: What the next market downturn means for small RIAs)