Canadian advisors have been slow to embrace independence, but that may be starting to change
The rapid evolution of the U.S. registered investment advisor model was sparked by the 2008 global financial crisis and the widespread layoffs at large broker-dealers.In the U.S., the wealth management industry is constantly in flux. News of new firms being formed, advisors moving, and multi-billion-dollar merger and acquisition deals dominate the headlines of trade magazines. With more than 17,000 independent firms, the U.S.
As a result, advisors have learned that their business’s potential value is significantly more than the 1.5 or 2 times recurring revenue that they could sell to a broker-dealer. Entrepreneurship proved to be a powerful tool for growth, with established firms using their success as currency to acquire others and scale even further.
However, in recent years, new Canadian platforms and software providers have offered streamlined solutions for advisors. As the independent market continues to grow in Canada, we expect even more enhancements to the advisor tech stack that will simplify the advisor experience and enhance client relationships.
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