What kind of growth has ASI Advisor Software seen in the RIA space as opposed to larger broker-dealers?
It’s a little hard to answer because if you consider an LPL Financial or that type of firm, we’ve got a lot of exposure. But over the last six months or so, we have specifically targeted these RIA firms with marketing campaigns. I’ve been pleased to see a pretty good growth rate amongst them. We’ve been pushing our approach to goal planning and tried to come up with a simple and direct approach to understanding what an individual’s goals are and how they can be interpreted into a number of different tools for the advisor.
What was the catalyst for going into the RIA space six months ago? Are you trying to capitalize on the wirehouse exodus?
To some extent, yes, but I think we’re cognizant of the fact that the advisory marketplace is interconnected. There are definitely benefits for us to having the individual firms as well as having exposure to the enterprises. They both give us feedback. The trouble with being exclusively with the enterprises is that you might lose some of the insights that come from working directly with somebody who’s got their feet on the ground.
How does your goal planning fit in to the retirement income planning puzzle?