Summary: More than a decade of pitching mutual funds and annuities to financial advisers convinced G.C. Lewis of two things: He wanted to become an adviser himself, and building one from nothing would be a huge challenge."It's very difficult today to start a financial-advisory practice from scratch," says Mr. Lewis. "The old days of cold calling don't work nearly as well...Today, more investors are looking to find advisers through referrals."
 If you go back 10 years, RIAs were buying only a small fraction of the advisers that were selling each year, but for the past few years they've been one of two dominant buyer categories; it's them and the consolidators," such as Focus Financial and Fiduciary Network LLC."
David DeVoe, Founder and Managing Partner, DeVoe & Co.
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