From InvestmentNews
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Summary: Custodians and other firms that serve financial advisers are scrambling to help them integrate digital platforms that will enable them to profit from younger clients and those with fewer assets.
From Think Advisor
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Summary: Most financial advisors didn’t get into this profession to manage people or to run a business. They got into it because of their love for finance and investing, and a desire to help people on their own journeys to fulfillment. But one day (and many can say they’ve already experienced this) they find themselves running their own practice, managing a team of people and tackling various other quandaries unrelated to the core of what they envisioned.
From InvestmentNews
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Summary:
When Debra Wetherby started her investment advisory firm in 1990, she was 32, just married and had less than $50,000 of capital.She plunged into an emerging industry of advisers who run their own businesses rather than operating inside big brokerages such as Morgan Stanley, which she'd left in 1988. With 10 clients betting on her, working without a salary and living on credit cards, she rented an office on San Francisco's Sansome Street and gave herself a deadline: make money in three years.Today Wetherby Asset Management , leases the entire eighth floor of a financial-district high-rise adorned with toga-wearing female statues dubbed the corporate goddesses.
From On Wall Street
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Summary: If you are an advisor running a practice that looks like an old Borders bookstore or an old Blockbuster video store, the answer is yes. However, if your practice is more like a Nordstrom department store with personalized service, you don’t have anything to worry about.
From InvestmentNews
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Summary: The third quarter saw another round of more than $100 million invested into robo-advisers by savvy investors hoping to change the world of wealth management. The core premise of every digital solution is that individuals can get educated, act rationally and do the right thing all by themselves.
