Small Firms Will Still Be Viable Even As Larger Independents Continue To Consolidate
Created: Friday, 07 December 2012 07:56
Some predict smaller firms will thrive, even without the benefit of the scale bigger firms can employ.
There’s no doubt that streamlining technology and creating scalable models will improve your business.
But even clients of medium size firms who are not able to scale their models or integrate their technology are getting attention and have trustworthy custodians.
Danny Sarch, CEO of executive search firm Leitner Sarch Consultants, says TD Ameritrade seem to specialize in serving small to mid-size RIAs.
Wirehouse brokers will continue to migrate toward independence so small and mid-size RIAs will continue to be formed.
You can open an RIA with only $50 million in assets. That equates to $500,000 in income, which is a nice living.
Technology is only going to become more accessible and there is a lot that’s off the shelf now.
So there’s should be plenty of room
for small to mid-size firms even as bigger firms continue to consolidate.
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