Knowledge and Insight > Manage Your Practice

Kitces: Can advisers operate like Uber?

Michael Kitces | Financial Planning, September 2016

Summary: In the span of barely 10 years, some of the world’s largest companies have sprouted seemingly out of nowhere, dominating industries whose incumbents have been around for decades, despite the upstarts not actually producing any goods or services. The key driver that makes the platforms so extraordinary: network effects, or the phenomenon that the more people use the platform, the more desirable of a marketplace it is for other people to use.

In the long run, solving the matchmaking problem between consumers and advisers can not only make it easier for consumers to get their questions answered, but also make those answers less expensive, too.”

Michael Kitces, a Financial Planning contributing writer, is a partner and director of wealth management for Pinnacle Advisory Group in Columbia, Md., co-founder of the XY Planning Network

< Previous Article

The Most Important Question for Your Advisory Business

Next Article >

We Will All Be Cyberattacked, Ex-FBI Cybercrime Agent Says

comments

Be the first to comment on this Article