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Five recent articles that show the RIA business just keeps hitting milestones

Advent buys Black Diamond, Carson goes RIA, Duran champions consolidation, Schwab goes full-out into franchises, Brightscope grades RIAs

Author Brooke Southall June 21, 2011 at 2:44 PM
1 Comment
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Dave Welling may play a pivotal role in whether Advent's Black Diamond acquisition makes the combined entity more like the Google or Microsoft of portfolio management systems.





Black Diamond




United Capital






PEAK Advisor Alliance



Elmer Rich III

Elmer Rich III

June 21, 2011 — 9:04 PM

The simple fact is that demographics and the increasing complexity of all financial matters – for individuals and businesses — is creating accelerating demand for financial professionals of all kinds.

For the “relationship (not transactional)”-oriented RIA business model, the “demand” side includes: – The population is growing. The Millennial generation is actually bigger than the previous biggest age group the Boomers. We have the great opportunity to “catch” young adults as they start their careers and help them save and invest better than prior generations. – Everyone will live longer. How to finance those longer lives is the exclusive domain of the financial services industry and all advisors. No government has the resources and skills needed to solve this problem. It’s a tough puzzle. – The global financial system is accelerating in velocity, complexity, uncertainty and opportunity. Real problem-solving skills and expertise and raw brain-power is (always) in short supply. We see a “supply” problem.

The challenge we see is RIAs not getting the support they need. Of course, everyone has some solution. But what do RIAs really need, to serve all this demand, as opposed to what’s for sale? Selling an RIA something is not always the same as supporting their business and necessary growth. Ideas?

Note: The “heat” around what BScope does has never been the goals, technology or advances they claim to represent. It has always been about the much less glamorous realities of this specific firm’s day-to-day business practices. We who work in retirement have seen these effects longer than on the RIA/advisor side.

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Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

United Capital Financial Advisers
RIA Welcoming Breakaways
Top Executive: Joe Duran

Envestnet Inc
Top Executive: Jud Bergman

BrightScope, Inc.
Data and ratings for RIAs

Carson Group
Consulting Firm
Top Executive: Ron Carson

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