Brokers bounce as wires cut; RIAs rally but see fees squeezed
December 19, 2017
Louis Diamond Quoted
By Janice Kirkel
As 2017 comes to a close, the year-end research attempting to take the pulse of the advisor market is hitting inboxes everywhere. And it may not be what you expect.
One recruiter, Louis Diamond of Diamond Consultants, said he was surprised by this finding.
‘Certainly we see the wirehouses losing market share to the regional broker-dealers (Raymond James, Janney, RBC, Ameriprise), but from where we sit, we see the RIA segment in particular is growing the most rapidly,’ he said. ‘With the advancements in technology, DOL pressures, and stronger economics, the RIA space is where the puck is headed.’