Summary: Advisors surveyed predict that about 20% of total AUM will transfer to the next generation with 10 years. To capture that business, Fidelity is urging advisors to engage the adult children of their existing clients and focus business development activities on younger investors.
 Advisors need to take a step back and look at their firm the way a venture capital or private equity firm would evaluate a start-up. What’s your unfair advantage? What niche or specialty do you have that your competition doesn't? Being a fee-only advisor providing good client service isn't enough. What would make an investor interested in your business?"David Canter, VP of practice management and consulting, Fidelity Clearing & Custody Solutions |
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