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Summary: Now they need to prove that they can survive the long game. In just a few years, an emerging group of digital RIAs — often characterized as “robo advisors” — have amassed over $16 billion in assets, according to New York–based research and consulting firm Corporate Insight. The leading players include Wealthfront, with about $1.6 billion in AUM; Betterment, with around $1 billion; and Personal Capital, at around $800 million.
Added on December 2014 in Join an RIA
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Summary: In many cases, advisers and brokers are finding that about 20% of assets are left behind in an average move between firms. Proprietary investments, banking and lending products and some illiquid alternatives can keep clients tied to the former firm longer, industry observers said. In addition, advisers take the opportunity to shed some of their smaller or less welcome clients, and some clients may prove harder to sell on a move than expected.
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Summary: Trust is an important element in any client-advisor relationship and is especially paramount when working with women. Female clients want financial advisors who are not only technically skilled but exhibit an emotional side as well. Understanding this will go a long way in fostering new, solid relationships.
Added on November 2014 in Form an RIA
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Summary: Financial advisors could face enforcement actions for not deleting misleading social media posts, said Katy Gordon, senior counsel at the Securities and Exchange Commission’s investment management division, who spoke Friday at an American Bar Association Business Law Section seminar on social media in Washington, D.C.
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Summary: Robo-advisors have almost $16 billion in assets under advisement, according to Corporate Insight, and directly manage almost $4 billion. Furthermore, they’ve earned those assets in only a few years of providing online advice. There are limitations to using an online advice provider, though, according to Equity Institutional. The firm recently released a white paper addressing those limitations.
