IBD Elite 2022

FPA 2022 President-Elect James Lee explains how the organization plans to pursue protection for a title that some advisors say is misused in the industry.

The presidents of two RIAs that use outside broker-dealers discuss how independent wealth managers are morphing in an effort to keep up with a fast-changing industry. Where do brokers fit in the future of wealth management?

As part of a long-term industry shift, firms like Ameriprise, Commonwealth and Northwestern Mutual get most of their business from advisory fees.

Despite the slow pace of change on the representation of women, there are some standout independent wealth managers and some signs of progress.

These are the largest firms with financial advisors who work with broker-dealers but aren't their employees.

Find all of the figures from Financial Planning's latest annual study of brokerages whose financial advisors aren't employees of the firms.

The word 'broker' carries negative connotations. But to many wealth management professionals, commission-based shops are valuable to a transforming industry.