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Summary: Five years ago, some industry observers took a grim view of the future for independent RIA firms. During the difficult operating environment of the post-2008 economy, some believed these advisories would not survive the challenges of the Great Recession. What a difference five years can make. Based on the results from the 2014 RIA Benchmarking Study from Charles Schwab, many firms today have not just survived but thrived and are enjoying their greatest levels of success to date.
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Summary: Nearly 90 percent said robo-advising is a trend destined to grow, with about half of the advisors indicating this online method of managing personal investments attracts young investors. Human advisors, respondents said, will have to find a way to compete for this clientele’s business.
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Summary: A new breed of wealth client has emerged over the past decade. These clients want to collaborate with wealth management firms when planning for their financial future. A report by CEB TowerGroup says firms that are willing to expend the time and effort to move away from an investment management approach focused on past performance toward a financial-planning-centered one that meets current clients’ broader needs will be rewarded
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Summary: There's one thing advisers who work with Millennials share, it might be that their peers think they're crazy. “A lot of people thought we were insane — with the golden age of baby boomers coming, why on earth would you want to work with people with no money,” said Ted Jenkin, co-chief executive of oXYGen Financial Inc. But Mr. Jenkin, who is a founder of his Atlanta-based firm, said doing so is an investment in the future of his business.
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Summary: There were the big stars — Schwab, TD Ameritrade, etc. But again, the key players were at the booths of smaller firms that have been successful (or are trying to be) in carving out their niche within the advisory world.
