Jud Bergman, Co-founder and CEO of Envestnet

Gen X and Y move assets more often than their parents.

The very term is becoming something of a misnomer.

Small household accounts have always been the bane of brokerages' existence, and advisors who work with such clients do so at the peril of their own compensation.

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Claiming they are giving advisors what they asked for, American Funds recently rolled out its new ‘Portfolio Series’ of funds. It remains to be seen if the new products will help staunch the severe outflow of assets at the once dominant fund company.

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