The Messy Nature of the RIA Industry and the Rise of Financial Planning Firms

The chapter delves into the complex and diverse landscape of the RIA industry, highlighting the challenges faced by clients in navigating through different types of advisors and firms. It explores the concept of 'Frankenfirms' resulting from mergers and acquisitions, as well as the increasing influence of private equity in shaping the financial planning sector. The discussion also touches on the future outlook for small financial planning firms amidst industry consolidation.