Is the Planning Boutique Dead and Buried?…

January 2000
Journal of Financial Planning;Jan2000, Vol. 13 Issue 1, p26
Academic Journal
This article presents information on a report issued by Undiscovered Managers Inc. related to financial planning in the U.S. Within the next ten years, the mom-and-pop financial planning shops competing for the semi-affluent client will be all but gone, buried by a handful of big players. The lengthy report, titled "The Future of the Financial Advisory Business and the Delivery of Advice to the Semi-Affluent Investor," has been creating quite a buzz among planners for its bleak and controversial view of the future for many small advisory firms amidst an increasingly brutish competitive environment. The report says the change will come much like the change that occurred in the institutional money management business, which has dramatically consolidated in the past 20 years. The report argues that semi-affluent consumers will want services beyond the capability of small shops to offer, and those consumers will turn to larger providers, such as brokerages, investment banks, accounting firms and other institutional firms who are beginning to target the semi-affluent, and who have the financial resources to expand their services while lowering fees.


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