By Mindy Diamond, WealthManagement.com – Not that long ago it was enough for an independent broker/dealer (IBD) to provide their advisors with basic clearing and custody and mandatory regulatory oversight. But today, with so many broker/dealers to choose from, advisors have come to expect much more. Higher levels of operational and practice management support, accelerated growth, cutting-edge technology and a strong platform are among the requirements FAs seek when considering a firm.
By Deborah Aronson – The independent broker dealer (IBD) space has experienced a transformation of late, just short of the consolidation we witnessed in the wirehouse world during the financial meltdown of 2008. Today, a changing regulatory environment and an increase in the overall cost of doing business has placed an enormous burden on independent broker dealers, no matter their size. Small broker dealers that lack the scale necessary to invest in their compliance and overall infrastructure are rapidly becoming an endangered species.
Mindy Diamond Quoted – By Megan Leonhardt, WealthManagement.com – What value will independent broker/dealers be able to offer their advisors in a post-Department of Labor fiduciary world? Independent broker/dealers have been facing increasing pressure with fee compression on the rise and advisors increasingly expecting more and better services. But the difficulty in retaining advisors is only going to increase with the implementation of the Department of Labor’s fiduciary rule.
By Mindy Diamond, WealthManagement.com – The independent broker/dealer model may be holding some advisors back from growing into an enterprise.
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