Added on October 2014 in Join an RIA
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Summary: With the financial crisis fading further into the background, advisers are once again looking for the ability to own equity in their firms, this time at independents.
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Summary: 2013 was another period of sky-high revenue and AUM growth and strong profit margins at advisory firms, according to the InvestmentNews 2014 Financial Performance of Advisory Firms. More and more, the modern advisory firm is looking like a business rather than the small practice of the past. That maturation process has been accompanied by an evolution in the way firms monitor and sustain their success.
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Summary: People starting their careers often worry about their finances, and many don’t know whom to trust for advice, according to a study published Wednesday by Fidelity Investments. Thirty-three percent of survey participants in the 25-to-34 age group — millennials or Gen Yers — identified their parents as the top choice as advisors on money matters, but 23% said they trusted “no one” when it came to advice about money, making this the second most common response.
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Summary: The recruiting crisis in the financial-advice industry isn’t fueled by disdain so much as by ignorance, says Fidelity Investments. After the fund manager surveyed nearly 800 recent college grads and young professionals, it concluded that the talent shortage is due to a lack of awareness about the profession, not to a lack of interest. In fact, only 20% of those polled had even a rough sense of what advisors do.
