The Long View
Andrew Blake: Broker/Dealer Consolidation and Fee Compression Have Been Much Bigger Headwinds for Advisors Than Market Volatility
Jun 11, 2024
Andrew Blake, Associate Director of Wealth Management for Cerulli Associates, discusses challenges in the financial advisory industry, such as broker/dealer consolidation and fee compression. He explores trends like the rise of independent RIAs, the importance of financial planning mentorship, and the evolving role of technology in financial advising. The podcast also covers the need for innovation in advisor services, the impact of advisor retirements on the industry, and the integration of financial advice programs in universities.
49:36
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Quick takeaways
- Advisor resilience to market volatility linked to consolidation and fee compression challenges.
- RIAs show robust growth due to advisor independence and shift away from wirehouse firms.
Deep dives
Research Methodology and Focus at Cerulea Associates
Cerulea Associates' research practices encompass wealth management, product development, institutional, and retirement. The key research areas focus on asset manager distribution through financial advisors and insights into financial advisors' critical needs, risks, opportunities, and challenges. The research's quantitative components include surveys targeting asset manager distribution personnel and financial advisors across various channels, supported by research interviews with industry professionals to gather comprehensive insights.
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