More money, more problems: The price of growth at wealth advisory firms

The surge in size of registered investment advisory firms has ushered in many benefits for wealth advisors and their clients.

Larger firms, meaning those with billions of dollars in customer assets, are able to pay top dollar for the most coveted advisors, offer soup-to-nuts services from retirement to estate planning and field a solid bench of investment and market strategists.

But with that bulk comes a price.

Time to register for INVEST 2023 , Financial Planning’s conference focused on getting the most out of your wealthtech.

Schwab’s most recent "Independent Advisor Outlook Study” flags complexity in business and management operations, culture dilution and crimped bandwidth for agility on strategy as among the potential challenges. As the fragmented wealth management industry undergoes rapid consolidation, those new hurdles are increasingly becoming a feature.

Read more: 5 graphs showing the pros and cons of RIA growth

In other news: