Break-Away Advisors Drawn to RIA Consolidators

July 14, 2017 by Cyril Tuohy

Advisors who flee the captive channel for the independent channel often end up at broker-dealers like LPL Financial and Raymond James, but it’s the fee-based consolidators of investment advisors that are scoring even bigger.

Consolidators, sometimes known as aggregators, provide technology, bookkeeping, budgeting, operations, marketing and compliance services to fee-based registered investment advisors (RIAs).

They also provide capital so that RIAs can grow through the purchase of other RIAs in a financial world edging ever closer to a fiduciary standard of advice and fee-based models.

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Originally Posted at Advisor News on July 14, 2017 by Cyril Tuohy.