Ron Carson launches roll-up/TAMP-like venture with Envestnet, TD Ameritrade and Advizent as puzzle pieces
The biggest of LPL's affiliates shows a walk-before-run approach to inorganic growth
Stephen Winks
Carson and Duran pose an interesting approach in resolving the challenge brokers face in transparency, portfolio construction and the broker’s well documented under performance.
The outsourced portfolio construction/management solution Carson represents is sound, Duran affords scale and a larger operations support capacity as well. But, portfolio construction and management still leave significant and complex fiduciary duties for the broker to fulfill on their own.
Given the technological advances in Asia which make continuous comprehensive counsel (required for fiduciary standing) possible in ways not possible here in a brokerage format, Carson and Duran may be at the literal beginning of the emergence of an advisory services format, seperate and distinct from a brokerage format, that finally brings fiduciary standing within reach of brokers.
A lot of work is required to make advice safe, scalable, easy to execute and manage as a high margin business at the advisor level at a cost cheaper than a packaged product.
SCW
Brooke Southall
Steve,
Can you write a column for us bringing us up to speed on what’s happening in Asia? I hadn’t heard that but it sounds interesting.
cheers,
Brooke
Stephen Winks
Yes,
But I am tied up for the next week.
SCW
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