Adviser links: the custody shift
Mondays are all about financial adviser-related links here at Abnormal Returns. You can check out last week’s links including a look at...
The custody shift within the financial advisory industry has been a topic of discussion recently. Josh Brown, CEO of Ritholtz Wealth Management, recently discussed this topic with Ian Wenik and Alex Steger on their podcast. It is clear that custody, or the management of client assets, is evolving beyond just the physical location of those assets.
Adam Cockerham of Financial Adviser Bath, in a conversation with Daniel Crosby, emphasized the importance of distinguishing between money and meaning problems. This distinction is crucial in understanding the changing landscape of client relationships and expectations.
Paul Bouchey, Editor of The Journal of Wealth Management and Managing Director of Applied Research at Morgan Stanley, spoke about the evolution of asset management with Brent Sullivan. This shift in asset management practices is indicative of the custody shift that is occurring.
Vanguard's acquisition of Altruist for $4.6 billion in cash is a significant event in the industry. A number of articles have discussed the implications of this deal, including why it is a big deal, how it could affect Fidelity and Schwab, and whether Vanguard and Altruist can manage to get along. Despite this, some critics argue that Vanguard has underinvested in technology, a criticism echoed in several articles.
The Forbes-Shook Research rankings have been suspended, and there is debate about the future of adviser rankings and lists. The business of adviser rankings and lists may indeed be coming to an end, according to some. Selling an advisory firm may lead to increased wealth, but could also result in decreased happiness, as suggested in one article.
The anxiety surrounding retirement is not simply an information problem, but rather a complex issue that requires more nuanced solutions. The importance of niches for independent advisers is also being recognized more and more.
Written by urgent.news from Abnormal Returns's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
