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March 30, 2023 at 10:07 AM
The latest edition of the Schwab Advisor Services’ Independent Advisor Outlook Study highlights the fact that “advisors don’t see the industry slowing down, and that growth continuously brings change, whether in the form of new opportunities, increased complexity or new challenges,” the authors of the report said Wednesday when it was released.
“The consistent pace of growth in this space over the past two decades has taken many forms,” according to the report.
“Against the backdrop of individual and family wealth creation, we have seen growing demand for fiduciary advice — and as firms have expanded to meet this demand, we’ve seen evolving ways of attracting and retaining the best talent to serve the growing needs of clients,” Schwab said.
Industry growth has also “been buoyed by a steady pace of innovation across technology, products and solutions, and operational best practices, all in the service of the independent model,” the report concluded.
See the gallery for eight VIP views on how advisors can keep growing and what lies ahead for the RIA industry.
(Image: Chris Nicholls/ALM)
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