RIAs continue to surge while full-service brokerage firms sputter

From Investment News:

Independent registered investment advisors and discount brokers are expected to continue picking up market share from traditional brokerage firms this year, according to Aite Group LLC.

RIA firms expect to grow their client numbers 12% this year, while wirehouse advisers expect 7% growth, according to an Aite survey of advisers completed in the first quarter.

“We see that RIAs are still running ahead almost 2 to 1 in terms of growth, compared to the full-service brokerage models,” said Alois Pirker, research director in wealth management at Aite Group.

RIA have the advantage because they are more nimble and able to customize services, Mr. Pirker said. “The focus that RIAs have is really something that’s hard to replicate,” he said.

We sat down with some of our clients recently to ask them why they chose Korving & Company as their investment advisory firm.  Some of the comments were:

  • You’re not Merrill Lynch or UBS
  • Personal service
  • Our neighbor
  • Home town
  • Lot of attention
  • We trust you
  • Like visiting someone in their own home
  • Convenient location

We’re flattered by the praise and appreciate the loyalty of clients who have been with us for decades.  We are also pleased that the children of our older clients are ready, even anxious, to continue having us manage their finances after their parents have passed on.  It’s an honor and a responsibility that we take very seriously.

Thank you.

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