I’d like to ask you to spare a minute to look at the independent contractor rule issue in New Jersey. Even if you feel safely on the other side of the Hudson or Delaware, there are people in your state government with similar ideas. Officials usually want to do the right thing, but sometimes we need to make them aware of what the right thing is for our industry through advocacy. Dale Brown’s editorial addresses the current situation.
Breaking Down The “Big Beautiful Bill”: Tax Insights And Advisor Takeaways
Dave Haughton of Wealth.com sets out the changes advisors need to watch for in the “One Big Beautiful Bill Act,” providing precise details on the legislation, how it may affect clients and how advisors can boost service by proactively leveraging the changes.
Beyond the Washington drama, the Big Beautiful Bill demands advisor attention both for the pitfalls it contains and for the opportunities it provides.
Why Mid-Sized RIAs Are Getting Squeezed
Ryan Marcus of Binah Capital looks at how mid-sized RIAs have moved from the “sweet spot” between scale and intimacy to being squeezed by both larger and smaller players. He sets out three ways for mid-sized RIAs to move ahead: specialization, partnerships and capital.
As competition ratchets up across the space, every RIA and advisory firm needs a strategy to stand out to both advisors and clients.
New Jersey Threatens Advisors’ Businesses And Clients’ Access To Advice
Dale Brown of the Financial Services Institute sets out the potential harms to independent advisors and their clients from New Jersey’s proposed independent contractor rule, explaining why it’s important that advisors have the ability to choose independence.
As Brown says, what happens in New Jersey won’t stay there. Advocacy is always needed, not just in the beltway but in state capitals across the country.
How To Choose The Right AI Partner For Your Firm
Adrian Johnstone of Practifi says a second phase of AI adoption has arrived in wealth management as we move from experimentation to adoption. Johnstone provides advice to firms searching for an AI partner, saying the AI provided should generate workflows, enable personalization and be centralized at the firm’s CRM.
Johnstone is right: The experimentation phase is over. Our industry will adapt to AI because competitive forces will push us in that direction. It’s better to be ahead of the curve than behind.
Regtech Surge: How To Choose The Best RIA Compliance Partner
Sid Yenamandra of SurgeONE.ai presents eight elements to consider when choosing the best RIA compliance partner, regardless of whether it’s a platform, full-service or hybrid.
Yenamandra points out that the regtech landscape is evolving quickly, which means RIAs have to stay current on how to select and evaluate vendors.
Deals & Recruiting Roundup
This week we cover acquisitions by EP Wealth, Wealthspire and MAI; the launch of Longleaf by wirehouse breakaways; recruiting by LPL, RBC, Raymond James, Sanctuary, NewEdge and Osaic; custodian recruitment by Altruist; and Focus Financial’s new Chief Strategy Officer.
Raymond James picked up quite a few advisors from Commonwealth in the past week.
Cerulli: Advisors Must Adapt Services To Better Meet HNW Clients’ Demands
Changing investor demographics and preferences are reshaping the approaches of advisory firms to serving an increasing number of wealthy clients, which necessitates wealth managers adapting their investment strategies and client services to better meet demands, according to a new Cerulli report.
Cerulli forecasts the total advisor-managed HNW industry will exceed $30 trillion in assets under management (AUM) by 2028.
MAI Capital Management To Add $27 Billion California RIA Evoke
MAI Capital Management is acquiring Evoke Advisors as part of a deal expected to close by Q4 that will create a combined firm with about $60 billion in AUM and AUA across over 30 offices, the companies said.
In this deal, MAI is purchasing a firm almost as large as itself.
Networks That Work For All: Evolving Support Models In A Shifting Industry
We spoke with Tammy Robbins of Cambridge Investment Research to hear her views and experience on how home offices can respond to the rising demands of entrepreneurial advisors.
Robbins says that home offices must provide the framework for a vibrant culture and customized support for different sizes and business models.
Docupace Unveils AI Roadmap To Transform Wealth Management Operations
Docupace released a position paper predicting that AI-driven operations will be standard in wealth management by 2027. The paper sets out a roadmap toward agentic AI for operations and discusses the efficiencies that will be extracted through the process.
The concept of “digital teammates” is appearing in wealth management, as well as other industries. AI is rapidly becoming the person in the next cubicle.
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Larry Roth
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Wealth Solutions Report
