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Summary: While some broker/dealer executives may be brushing aside the potential risk of emerging online advice platforms, almost half of RIAs are not quite as confident. In Schwab’s 2014 Independent Advisor Outlook Study—which surveyed 720 investment advisor firms—44 percent saw the online platforms as a threat, while 56 percent said “robo advisors” could supplement their current offerings and help grow the business.
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Summary: Fearful that an army of robo-advisors will raid your clients, eat your lunch, burn your fields and leave you high and dry? Then you may be interested to know about a new tech offering that’s not trying to turn robots into financial advisors but rather to get the robots to work for the financial advisor.
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Summary: He fought the Securities and Exchange Commission and the agency lost — in other words, Mark Cuban is just Brian Hamburger’s kind of guy. More to the point, Cuban, the 55-year-old owner of the Dallas Mavericks is a dream choice to speak at the securities attorney’s annual conference, the MarketCounsel Summit, an agglomeration of RIAs that answer to the SEC for their every move on behalf of clients.
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Summary: INSITE 2014 unveils wired body armor for the advisor of the future as it rolls out a slew of NetX360 upgrades. Demonstration of future technologies was a running theme at INSITE conference this year, as 2,300 advisors, broker-dealer executives, trust companies and a large swath of international wealth management folks crowded into the Hollywood Westin resort, just north of Miami Beach.
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Summary: In the advice business, it's better to be David than Goliath in the current environment of regulatory and environmental uncertainty. Registered investment advisers and mid-size broker-dealers stand to benefit as new regulations, low interest rates and a slow-growth economy continue to drive layoffs and consolidation in the industry, said Brian Shea, president of investment services at BNY Mellon Corp.
