Independent Advisors Express Concern Over Losing Clients to Large Financial Institutions
What happened
A survey of 400 U.S. independent advisors and RIAs found that 55% are very or extremely concerned about losing high-net-worth clients to large institutions or national brokerages. Nearly three-quarters of the surveyed advisors currently serve households with $1 million to $5 million, and two-thirds view this segment as a leading source of future growth.
From investmentnews.com
Why it matters
The concern highlights a gap between what clients want and what current practices are set up to provide. This trend occurs as U.S. wealth remains highly concentrated, with the wealthiest 10% of households holding nearly 69% of household net worth in the second quarter of 2026.
From investmentnews.com
Who's involved
- ConcordA smaller entity facing competitive pressure from large institutions.
- BlackRockA large institution exerting competitive pressure on smaller entities.
- Julio Herrera VelutiniA banker who might be affected by competitive pressure from large institutions.
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The entities involved
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BlackRock
American multinational investment management corporation
- BlackRock increased its shareholdings in several European companies, including Enel, UniCredit, Intesa Sanpaolo, and Eni.
- BlackRock is expanding training for Texas data centers, while Google targets skilled trades in Dallas. Meanwhile, Meta and OpenAI are involved in AI data center construction in Michigan.
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Concord
American independent music company