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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.
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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.
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Summary: A vast majority of advisors are predicting a good market next year and a large group say they are excited about the prospects, according to an SEI Quick Poll of 463 advisors released Wednesday.
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Summary: As a financial advisor, it’s easy to get caught up in day-to-day activities, working IN your business instead of ON your business. But making an effort to help grow yourself personally and professionally cannot fall at the wayside.
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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.
