Ascensus homes in on indie 401(k) advisors with adds of Commonwealth, Morgan Stanley vets
Elmer Rich III
We work in the UNHW/family office markets and the data is sobering. Two challenges present themselves:
- Data suggest 70% of family offices fail so serving large wealth is very demanding
- The challenge in the business model is, as the article suggests, demand that continually expands and proliferate while charging for services is always playing “catch-up.”
Add in pressure on fees overall and the economics can become unsustainable.