McKinsey & Co. weighs in on the future of RIAs -- where it has 'zero business' -- and comes up with the same boilerplate prediction about the demise of mom-and-pop shops
The $10-billion revenue colossus pooh-poos $7 trillion of 'mom-and-pop' RIA assets after they take in 22% of all investable assets last year, from 16% base, according to McKinsey's own numbers.
Brian Murphy
Related Moves
Plague of failed hires at strapped RIA firms 'come back to bite them,' making the process of closing bandwidth deficits falter, two new studies show
Turnover rates hover near 50%, Cerulli and Ensemble report, and may be worsening as hires in market of talent scarcity has inevitable backlash.
February 28, 2024 at 3:36 AM
The classic RIA era is sputtering and firms must 'decentralize,' hiring non-advisors to specialize, new Cerulli report shows, or RIAs will 'limp along,' a second consultant says
RIA principals have killed Wall Street with semi-solo shops -- only 35% have 'specialized staff' -- but the comfort zone must evolve for growth
January 13, 2024 at 2:24 AM
Cerulli Associates
Consulting Firm
Top Executive: Kurt Cerulli