By Mindy Diamond via Iris.xyz
From one major event to another, 2017 will certainly go down in the books as the year that no one saw coming, but it set the stage for a pretty interesting year ahead.
Looking back on the past 12 months, I think it’s fair to say that the “new normal” in the wealth management industry has evolved into the “new abnormal” as the shifts we are seeing have been anything but predictable. Yet, advisors have proven their resilience as evidenced by their adaptation to things like the DoL Rule—choosing to live by the “best interests” standard regardless of the mandate – and accepting the “market correction” in transition packages at the wirehouses as a reality.
The industry landscape looks very different than it did just a few short years ago, a hyper-vigilant compliance culture at the major firms is causing more and more advisors to be terminated for minor (and sometimes not-so-minor) infractions, and even the industry game changing agreement – the Protocol for Broker Recruiting – has been challenged and, in some cases, rendered moot.
What do we make of the events that defined 2017 and what can we expect to see in the coming year?
Click here to read the full story on Iris.xyz.