As RIAs Chase Scale, Smaller Practices Will Scramble To Stay Relevant: Report
by: Jeff Benjamin
In a new research report on the registered investment advisor (RIA) space, John Furey, founder and managing partner of Advisor Growth Strategies, warns of the “unforeseen risks of doing nothing” when it comes to business development and general growth strategies. While RIAs don’t necessarily have to follow the herd toward mergers and acquisitions, Furey said advisors that aren’t proactively thinking about the various forms of business development could be quickly left behind in an increasingly competitive financial advisory landscape. Furey said RIAs with less than $400 million may have a difficult time standing out unless they develop a unique niche or some other special abilities.
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