FPT In the News

September 2019 - The New York Times

Posted by FP Transitions on September 13, 2019

FP Transitions CEO, Brad Bueermann, weighs in on the "trend" of consolidation among wealth management firms in Friday's New York Times Article, "Wealth Advisory Firms Are Merging, but What's in it for Clients?" by Paul Sullivan. Experts share their thoughts on the trend and whether or not the trend is actually resulting in better service for advisory clients.

We have seen that the ability to leverage technology and better processes indeed produces stronger and more valuable businesses, but access to these tools is not necessarily a function of size. As Brad says in the article, “We firmly believe at the client level that doing business locally with people who understand the community where their clients are going to retire into and who have a close connection to the client are better...Independent practices have flourished for a reason: Consolidation is the world we came from 30 years ago.”

Read the full article, "Wealth Advisory Firms Are Merging, but What's in it for Clients?" here.

Topics: Business Growth, FPT in the News, Sustainability, New York Times