Are IBD Reps the Next Wave for RIA Model?: dynamic wealth management

A recent article in RIABiz.com predicts that advisors moving to the RIA model will be coming in greater numbers from independent broker-dealers. The sources point to the fact that many advisors are reaching the magical $100 million of assets under management that many times creates the urge to make the switch to more capabilities and the opportunity for greater control as a business owner and advisor.

Mindy Diamond, an industry recruiting consultant was quoted as saying, “There are more of these restless outliers because of an increase in fee business for all advisors (so the more fee-based, the more they can consider the RIA space), and because the hyper-vigilant compliance cultures at the IBDs make it harder and harder for advisors to grow their businesses.” 

Others mentioned that that advisors are seeking more complete wealth management solutions such as CRM, portfolio management and financial planning, and the freedom to truly operate in the best interests of their clients.
Schwab provided stats that indicate their new relationships with advisors from IBDs were up over 45% in 2010.
For more information or to read the full article, see link below.
http://www.riabiz.com/a/5391326
Tags: Custodians, financial advisors, going independent, Series 65 Exam

This entry was posted on Monday, January 24th, 2011 at 10:23 am and is filed under Custodians, Going Independent, Practice Management. You can follow any responses to this entry through the RSS 2.0 feed.