How Have Broker-Dealer Practices Evolved, and What’s Coming Next?
How much influence does technology have on finances today versus 30 years ago? In this episode of Big Picture in Practice, our hosts, Ben and Julie, sit down with Rob Pettman of LPL Financial to explore technology’s past, present, and future impact on the evolution of advisory services. Over the years, there has been a substantial reallocation of budgets from traditional brokerage to advisory services. This shift has led to financial professionals evolving their services to meet the complex needs and expectations of investors.
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The world of investments today isn’t the same as what it was 20 years ago. Back then, the services that financial advisors provided their clients were much more 1:1 matched. As Rob Pettman, EVP and head of wealth management solutions at LPL Financial can attest, it was “a bit like being a Home Depot floor worker.”
In today’s landscape, however, advisors have evolved greatly in how they work with their investor clients on wealth management and exploring opportunities.
Rob Pettman joins the Big Picture in Practice hosts to talk about the evolution of the broker-dealer landscape. What it was, what it has become, and what it could be down the line.
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