The Wheels of Change are in Motion: Adapt Or Be Left Behind
“It is not the strongest of the species that survives, nor the most intelligent that survives.
It is the one that is most adaptable to change.”
~ Charles Darwin
The wealth management industry is changing fast and it is changing dramatically. A new generation of investors, whose expectations and preferences have been shaped by new technologies and by their living through the last financial crisis and its impact, have brought new standards to the industry in terms of how advice is being delivered. Furthermore, a challenging investment environment, characterized by increased levels of uncertainty and rising costs of risk to investors and RIA firms alike is making it harder for advisors to generate superior investments.
Shifting advisor demographics and the transfer of wealth from baby boomers to the Gen X and Millennial generations will impact many established advisor/client relationships and create opportunities for new firms to grow market share at the expense of incumbent firms.
Finally, increasing regulatory burdens, evolving business models and new competitive patterns which may trigger a crisis of differentiation will all come together to further compound the level of disruption and reconfiguration within the market. While many firms may benefit from all the changes, one thing is clear: RIAs must harness these trends to adapt - or be left behind.
In that context, the 6th Annual RIA Central Investment Forum will focus on the practice management techniques and investment strategies leading independent, RIA firms should be familiar with in order to compete and survive in an increasingly crowded, increasingly competitive, and rapidly changing market.