These are revolutionary times for investment advisors; client preferences and practices are changing radically, upending the value proposition that advisors long thought was working well for them and forcing them to reconsider how to attract and retain business.
The numbers tell us that the old model of the “rep as portfolio manager,” earning fees by managing a pool of assets, is becoming less viable. Investors today are intensely cost conscious, and portfolio management itself is becoming commoditized.
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