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Tag: Cerulli
Financial Services Research Firm Says Wire-house Wealth Managers’ Focus on Profitability is Backfiring
Wealth managers are finding additional reasons to consider moves to independent or to direct-selling discount firms like Fidelity. Decisions made by wire-houses—such as employing only the most productive financial advisors, increasing their revenue sharing fees and focusing on high net worth investors—may be causing them to forsake long-term domination of the advice space for short-term […]
Wealth Managers are Moving Away from Big Banks to Independent Multi-family Office Practices
Call it “wealth management” in motion as financial advisors and private bankers flee the big banks and wire-houses for smaller Registered Investment Advisor (RIA) multi-family office practices, according to Cerulli Associates. As providers serving high net worth (HNW) investors, wire-houses are continuing to experiencing a loss in marketshare, and by 2014 their share of the […]
Cerulli Sees Advisor Assets Declining for the Big Banks to the Joy of Boutique Wealth Managers
Market share has been declining for banks in the financial advice space, says Boston-based financial services research firm Cerulli Associates, suggesting that the trend will continue into 2013 and will be more pronounced if banks don’t offer their core financial advisors additional support. Cerulli projects that in 2013 the wirehouse channel will still be the […]
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