According to Ernst & Young, socioeconomic shifts and changing client demands are opening up new opportunities for leading wealth and private banks (WPBs) to redefine the client experience across the entire spectrum of wealth management services. Seamlessly blending people and digital technology will be key to delivering wholly personalized advice that enhances the lives of clients.
For RIA firm owners looking to monetize their business, there are a few different options available. In the past, private equity was the primary source of liquidity for these types of transactions. However, with the growth of the independent channel, there are now a number of different options for firm owners to consider.
For the next-generation advisors who are in line to inherit a book of business from a senior advisor, the goal is to build and shape the legacy that will be left to them and to do so in a way that feels authentic, value-driven, and entirely their own.