The wealth management industry is undergoing unprecedented change:
- Massive asset flows continue into ETFs and index funds
- Fee compression across the board impacts revenue for financial advisors, asset managers and platform providers
- Adoption of a fiduciary standard and uncertainty about the rule for retirement enables RIAs to gain market share at the expense of brokerage firms
- Regulations and compliance requirements are increasing the cost of doing business
- New technologies emerge that disrupt traditional operations and business models
- Corporate mergers and acquisitions consolidate the industry to a state of convergence and “co-opetition” (coined by Bill Gates) where participants don’t know with whom they compete or with whom they cooperate
Firms across the industry are spending their time and resources on managing operations, technology, staff, and day-to-day tasks instead of strategically thinking about how they can better serve clients, grow revenues, increase market share, and improve profitability.
Trident Wealth Management Consulting, LLC is a boutique strategy consulting firm with the right nexus of skills to help CEOs and leadership teams reach your revenue growth and profitability objectives.