“Sometimes we stare so long at a door that is closing that we see too late the one that is open.” This astute observation by Alexander Graham Bell, inventor of the telephone, is just as relevant to the advisory industry today as it was to Bell’s peers. The closed door? After a tough 2008-2009 in which registered investment advisors (RIAs) experienced contracting revenues, assets and profit margins, some advisors were forced to cut back on support and administrative ...

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