[pullquote]Is the RIA profession entering a golden era? Sounds gushy, but it might be true.[/pullquote]
“Increasingly, investor mindshare and wallet share are moving into the space as people turn away from the commission-based model in favor of a fee-based one that, in theory, represents unconflicted financial advice. Meanwhile, greater numbers of breakaway brokers want a piece of the RIA action. Cerulli Associates projects the combined RIA and dually registered market share to make up 24.7% of the advisory industry in 2014, up from 18.6% in 2010. For sure, the wirehouse broker model will remain a force. But RIAs seem to have momentum on their side.”
“The RIA market is the winning market of the current and next decade,” says Chip Roame, managing partner at Tiburon Strategic Advisors.
FinancialAdvisor.com’s survey report in the July issue is the basis for these claims. See Jeff Schlegel’s “Finding Their Own Way” in-depth look at current trends and complete RIA rankings.