Why Joe Duran is dead wrong on 2015 marking the end of the Golden Era of the RIA
The serial entrepeneur's column in InvestmentNews forgets that RIAs are also advancing and that the 'new competitors' carry baggage and have fatal shortcomings
MisterRIA
Well I don’t think he knows who will win in the future… but I sure know why he’s saying this… he wants you to give up your independence and join his firm. It’s a totally self serving argument he’s making so take it with a grain of salt.
LCD
I always enjoy reading Joe’s commentary but my takeaway is always the same – is he doing a roll-up financial advisors or is he doing a roll up shrinks as everything he seems to promote revolves around the interpersonal relationship between parties and little else. It is amazing to me how just about every middle man in all facets of the industry whether it be robo advisors, roll ups, tamps and most BD’s are so dismissive of the investment management component of financial advice. They all say that it is nothing more than a commodity and every study says that investment performance is very low on the list of what clients want. Is this really true or is it because the industry at large is ill equipped to deliver high quality investment advice in a scalable way. I am part of a boutique RIA that does nothing but investment management that takes a holistic approach combining indexing, SMAs and Alternatives (no liquid alts ,thankyou) and from our perspective and our clients response this seems to be exactly what they want, someone who will create high quality, fairly priced, transparent and non conflicted portfolios that meet their needs. Maybe it is the distributors that are the commodities not us.
Grant Barger
I am picking up a subtle WWE vibe with the cage match scheduled for Wednesday! There have always been threats… and they are all real to varying degrees to each advisor… I would think he was going to offer some solutions in the later portion of the series… something leading to 2020 Advisor Vision… but maybe he wasn’t… I am looking forward to hearing your solutions on Wednesday.
Jeff Spears
Why do we have to make catastrophic claims to get people’s attention? I guess if you keep making these claims you will eventually be correct. CNBC pundits do it everyday….
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