Here is part one of a guest article about compensation trends in the wealth management industry. His insights reflect the presentation he made earlier this month at the annual American Bankers Association, Wealth Management and Trust Conference.
This article explores the current trends of the wealth management industry including the recruitment of client-facing professionals with portability and real production records, the increased frequency of team lift-outs, and the attractiveness of acquiring RIAs in an effort to increase assets immediately.
Allan Starkie discusses the decline in portability of asset management relationships and offers a more structured approach based on specificity and connectivity. The implementation of both should ensure that the portability assessments live up to expectations
Allan Starkie discusses how the investment advisor of the near future needs to be proficient in a formidable number of products and services to orchestrate the holistic delivery of comprehensive wealth management.