How the market downturn affected 870 Schwab RIAs in 2009 and how they are reacting to it in 2010
Profits took a tumble in the market downturn but resolve to grow is on the rise, according to a massive new survey
Author Brooke Southall July 7, 2010 at 5:45 AM
Bill Winterberg
July 7, 2010 — 6:23 AM
Scott Slater is almost correct when he said RIAs are “getting 11% less for the same amount of work.”
RIAs are getting 11% less for their increased work loads. Service demands are up, meetings take longer, and candles are burning at both ends. So initially an 11% decline doesn’t seem that bad, but coupled with more hours worked per week, the revenue per client decrease may actually be closer to 20%.
Bill @ <a href="http://fppad.com" rel="nofollow">FPPad.com</a>
