Added on October 2017 in Join an RIA
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Summary: Big RIA firms are paying more to ensure they have good talent, writes FinancialAdvisorIQ.This year, 92% of all large advisory firms increased salaries across the board, the publication says, citing a Fidelity report. And nearly 50% gave raises “that outpaced the national average for their respective positions,” the publication says.
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Summary: The number of young millionaires is quickly growing, according to Fidelity Investments. In its ninth “Millionaire Outlook” study, the firm reported that Generation X/Y individuals account for 18 percent of millionaires in the U.S., up from 8 percent in 2012.
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Summary: E*Trade Financial Corp.'s acquisition of Trust Company of America is seen as a solid endorsement of the strength and profitability of the financial advisory business.
Added on October 2017 in M&A Issues
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Summary: Private equity investors have their eyes on the financial advice market, but there's a debate brewing among industry executives over the merits of using that private capital.
Added on October 2017 in Join an RIA
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Summary: As the largest independent advisory firms continue expanding, something unexpected has happened along the way. The typical professional at one of these firms is no longer "independent" in the sense that he or she is an owner of the business. Instead, that individual is an employee of the firm.
