The wealth management industry has seen juggernaut-like growth for more than two decades—but it has a blind spot, argues Jon Foster, president and CEO of Angeles Wealth Management. RIA firms are seriously underestimating the threat of falling fees, he says: “If you get 20% fee compression, which I think is a slam dunk, then I think a third of the business can’t make money.”
Speaking with Barron’s Advisor from his firm’s Santa Monica, Calif., headquarters, Foster talks about building a $2.2 billion-asset private wealth management...
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June 11, 2021 at 06:30PM
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Angeles Wealth’s Jon Foster: Ugly Surprise Stalks Advisory Industry - Barron's
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