Tiburon Strategic Advisors brings together more than 200 industry executives and the latest industry data for its twice-a-year summits. At last week’s gathering in San Francisco, Managing Partner Chip Roame zoomed in on the top trends affecting advisors and the wealth management industry.
While Roame walked attendees through nearly 300 slides, the consultant and industry veteran was clear on where he thinks the industry should be focused. Robo-advisors, for instance, do not represent the industry threat that often makes headlines.
The 52 of them in business today have grabbed about $316 billion in assets, he says, which is quite a jump from $16 billion in 2007. However, the narrowly defined robos — firms like Wealthfront and Betterment — now work with just under $17 billion in assets.
Also, while socially responsible investing has attracted $40 trillion in assets worldwide, two-thirds of these assets are based in Europe, Roame points out.
Most socially responsible investments today are made by institutions, women and millennials. SRI-themed mutual funds and ETFs, he adds, had inflows of $6.1 billion in 2017, down from $6.2 billion in 2018.
Check out the gallery above for the six biggest trends Roame outlined.
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