Fee compression is a 'real challenge' for the industry

Fee compression is a 'real challenge' for the industry
InvestmentNews Awards 2024, Advisor of the Year (Western region): Robert Patton, SageView Advisory Group.
MAY 28, 2024
By  Josh Welsh

For Robert Patton, the best part of being a financial advisor is the retirement planning for clients.

“We can really help people with their most important asset, which is their retirement asset,” he said. “Through education, through investment lineups, and through plan design.”

A driving issue the managing director at Silicon Valley, California-based SageView Advisory Group sees the industry facing is fee compression.

“As our industry matures, clients are expecting more,” he highlighted. “Competition is more fierce and price is the first thing that tends to get hit. So how do you maintain fair margins while still growing the business, servicing the business and not losing sight of what we have to do every day, which is make retirement plans better?

“That has been the real challenge for everybody in this business,” Patton added.

Patton is keen on navigating those challenges, especially after being recognized as an InvestmentNews Awards 2024 Excellence Awardee, with the winners announced on June 20 at 583 Park Avenue, New York City in a glitzy, red carpet ceremony. Click here to register to attend.

Noting that SageView is at “the center of the tech universe,” they’re constantly working with the big tech companies “that are changing our world,” Patton says.

“We run an incredibly efficient business with scale, making sure that we're delivering not only the fiduciary advice and services that our clients expect from us but we also deliver a plan design that helps their participants save as much as possible and ease into retirement by offering education so they can go on through retirement,” he added.

Latest News

401(k) savings rate at new record high but balances are down slightly
401(k) savings rate at new record high but balances are down slightly

Quarterly analysis of retirement accounts highlights positive behavior.

JPMorgan mulls new asset lending scheme aimed at crypto ETF investors
JPMorgan mulls new asset lending scheme aimed at crypto ETF investors

Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.

Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader
Fintech bytes: Future Capital adds RayJay alum to C-suite, Advyzon welcomes ex-Envestnet leader

The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.

UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel
UBS 'wrongfully' fired Idaho advisor in 2021: FINRA panel

“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.

Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role
Cetera Trust hires Fidelity vet Kerri Scharr for chief fiduciary officer role

The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.