Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a survey has found that, at a time when many financial advisors are leaning into comprehensive wealth management services, more than half of RIA client assets amongst respondents are invested in model portfolios. That said, advisors aren’t necessarily taking a hands-off approach to portfolio construction, with advisor-built models representing the most commonly used (51% of model assets), followed by home-office models (20%), standard third-party models (17%), and third-party custom models (12%). Which suggests that many advisors are seeking ways to free up time to focus on other planning (and business management) responsibilities while remaining ‘hands-on’ with the investment management process.
Also in industry news this week:
- A significant increase in the minimum asset size for referrals in Charles Schwab’s Advisor Network program could lead some firms to reevaluate their participation (and perhaps their overall custodial relationship with Schwab)
- The SEC this week submitted a proposal that would expand retail investor access to private market investments that have long been the purview of institutional and wealthier investors
