Wall Road big Goldman Sachs lately introduced its acquisition of the nationwide wealth administration agency United Capital for $750 million in money, inflicting many within the RIA neighborhood to query what the deal means for the way forward for independence.
Many registered funding advisors who got here out of the wirehouse world will let you know they left the massive Wall Road companies so they might achieve independence and extra autonomy over operating their very own enterprise.
So the 220 advisors who bought their practices over the previous 14 years to comply with Joe Duran’s imaginative and prescient of what monetary recommendation must be for purchasers will discover themselves, in a way, proper again the place they began.
Some say the deal is proof of the maturation of the RIA area; others say it’s a darkish sign that huge banks and brokerages are infecting RIAs. These seven business observers weighed in.
Post a Comment