Summary: Due to the rise of "robo advisors" and other digital platforms, retail investors have access to a broad range of relatively cheap and highly sophisticated third-party asset management offerings. So, while asset management will always be a component of any independent advisory practice, the day is fast upon us—if it hasn’t come already—when it can no longer be the principal focus.
 The consolidation of our industry has begun, and those who choose to ignore it risk becoming obsolete. Obviously, though, very few independent advisor businesses have the resources to build this type of operation from the ground up."Steven Dudash, president, IHT Wealth Management |
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