More than 26% of advisory firms surveyed by technology firm Advyzon now use flat dollar fees.
Chicago-based Advyzon, which provides a range of technology to registered investment advisory firms, said that among the 1,000 of its users it surveyed, flat fees are more popular with firms managing more than $100 million in assets. Those firms also are more likely to have multiple fee schedules than other firms (89% versus 81%).
Quarterly billing remains the industry standard (74% of firms surveyed), based on beginning or ending balances, which “creates potential for big revenue fluctuations in volatile markets,” the company said in a release.
Other firms are using monthly billing (21%) and a growing number (16%) are calculating their fee based on average daily balances.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
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Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
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Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
