Advisors generally expect to increase the percentage of their assets in fee-based accounts over the next two years—perhaps in anticipation of new fiduciary rules. Across all channels, advisors reported that an average of 55% of their assets were in fee-based accounts. The average is expected to rise to 62% over the next two years—a 13% increase.
Advisors from independent broker/dealers and RIAs already have more of their AUM in fee-based accounts than advisors from larger firms (64% versus 45%). So it is perhaps not surprising that their expected increase is smaller than those of advisors from larger firms—independent advisors forecast an increase of 9% compared to a 27% increase in fee-based AUM for advisors from national wirehouses and regional firms.
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