Five recent articles that show the RIA business just keeps hitting milestones
Advent buys Black Diamond, Carson goes RIA, Duran champions consolidation, Schwab goes full-out into franchises, Brightscope grades RIAs
Schwab
|Advent
|Black Diamond
|LPL
|United Capital
|Envestnet
|BrightScope
|PEAK Advisor Alliance
|Centurion
Elmer Rich III
The simple fact is that demographics and the increasing complexity of all financial matters – for individuals and businesses — is creating accelerating demand for financial professionals of all kinds.
For the “relationship (not transactional)”-oriented RIA business model, the “demand” side includes: – The population is growing. The Millennial generation is actually bigger than the previous biggest age group the Boomers. We have the great opportunity to “catch” young adults as they start their careers and help them save and invest better than prior generations. – Everyone will live longer. How to finance those longer lives is the exclusive domain of the financial services industry and all advisors. No government has the resources and skills needed to solve this problem. It’s a tough puzzle. – The global financial system is accelerating in velocity, complexity, uncertainty and opportunity. Real problem-solving skills and expertise and raw brain-power is (always) in short supply. We see a “supply” problem.
The challenge we see is RIAs not getting the support they need. Of course, everyone has some solution. But what do RIAs really need, to serve all this demand, as opposed to what’s for sale? Selling an RIA something is not always the same as supporting their business and necessary growth. Ideas?
Note: The “heat” around what BScope does has never been the goals, technology or advances they claim to represent. It has always been about the much less glamorous realities of this specific firm’s day-to-day business practices. We who work in retirement have seen these effects longer than on the RIA/advisor side.
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April 2, 2024 at 1:28 AM
Dani Fava is out at Envestnet -- to capitalize on AI revolution at a new firm, she hints
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March 20, 2024 at 1:25 AM
Envestnet shares popped -- up 8% today -- after Wall Street filtered out bad news and staked its bet on confidence in a new team
The Berwyn, Pa., firm sugar-coated nothing but ended up with a sweet stock price result as analysts see good outweighing bad.
February 24, 2024 at 3:33 AM
Bill Crager is dropping CEO role after multiple shoes dropped; the company insists it was his 'decision' but vision, Yodlee future uncertain
The co-founder of the $5.3-trillion AUA outsourcer of software and investments was pressed to take the job under the most adverse circumstances, then second-guessed by stakeholders as he managed the cards he was dealt.
January 9, 2024 at 4:09 AM
See more related moves
LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold
United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran
Envestnet Inc
TAMP
Top Executive: Jud Bergman
BrightScope, Inc.
Data and ratings for RIAs
Carson Group
Consulting Firm
Top Executive: Ron Carson