RIAs Still Wooing Full-Service Clients

Published Wednesday, August 20, 2008

It has been a cruel year for a lot of wirehouse advisors, with the sub-prime and ARS messes eroding client confidence in their firms. But times are good for registered investment adviser (RIA) firms. In fact, there is some new evidence out there that RIAs may be taking clients from the wirehouses. According to Charles Schwab’s semi-annual "Independent Advisor Outlook Study" for 2008, affluent investors are continuing to turn to independent advisors and away from full-service firms. Granted, Schwab is not exactly an impartial observer in this apparent tug-of-war over clients. Still, according to their survey results, 85 ...

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