Scale This
Editor's Note: This post from the Wealth Consigliere appeared May 23 in Financial Advisor IQ, a Financial Times publication. http://www.financialadvisoriq.com/c/523711/58481 Scalability is a proven business strategy across many industries, but is it right for high-end wealth management? Evidence suggests that it isn’t – and probably never will be. The recent defections of advisors from RIA aggregators and large Wall Street firms are more fresh proof that scalability doesn’t work in high-end wealth management. It’s also a teaching moment for advisors trying to figure out how to run their business. If you think scale is the road to success, it will likely be a dead end. The scalable, widget-making model for individual wealth management won’t serve clients well, nor advisors seeking more personal satisfaction and control of what they offer their clients. Counter To Conventional Wisdom The lack of scalability in individual wealth management runs counter