Survey: Women and Gen X and Y clients will drive investment adviser firms' profitability

06/30/2013 | Financial Advisor

A survey of independent registered investment advisers by Charles Schwab Advisor Services has found that while advisers see women and Gen X and Y clients as the wave of the future for their firms, they are still focused on the current generation of clients, including baby boomers and retirees. The study suggested that RIAs should balance the needs of both cohorts in order to ideally place their firms for sustainable long-term growth. A companion study conducted by Schwab found that a majority of the investors surveyed want advisers with a holistic approach to their finances as well as transparency regarding adviser compensation.

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