Ria Business Plan

Business ideas that may have never been economically viable on their own suddenly could be, thanks to platforms.THE BIG HEADStoked in no small part by technology itself, a raging debate exists around whether the future of the advisory business lies with the largest of firms that can leverage all this technology to out-scale the independent advisor, or whether independents will be able to leverage the same technology and the emergence of platform marketplaces to thrive. On one hand, there are only 687 RIAs with at least Business ideas that may have never been economically viable on their own suddenly could be, thanks to platforms.THE BIG HEADStoked in no small part by technology itself, a raging debate exists around whether the future of the advisory business lies with the largest of firms that can leverage all this technology to out-scale the independent advisor, or whether independents will be able to leverage the same technology and the emergence of platform marketplaces to thrive. On one hand, there are only 687 RIAs with at least $1 billion of assets under management — and that’s out of nearly 18,000 SEC-registered investment advisers and even more state —registered investment advisors, according to data from Cerulli. || Business ideas that may have never been economically viable on their own suddenly could be, thanks to platforms.THE BIG HEADStoked in no small part by technology itself, a raging debate exists around whether the future of the advisory business lies with the largest of firms that can leverage all this technology to out-scale the independent advisor, or whether independents will be able to leverage the same technology and the emergence of platform marketplaces to thrive. On one hand, there are only 687 RIAs with at least $1 billion of assets under management — and that’s out of nearly 18,000 SEC-registered investment advisers and even more state —registered investment advisors, according to data from Cerulli. billion of assets under management — and that’s out of nearly 18,000 SEC-registered investment advisers and even more state —registered investment advisors, according to data from Cerulli.

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Even if the firm overcomes the infrastructure-building phase and clears the complexity wall, it then encounters a growth wall.But that nominal 3.8% of RIAs now commands a whopping 60% of all RIA assets, up from 2.8% of firms in 2012.In other words, the largest firms are quickly becoming the dominant collectors of client assets, using their size and scale to grow even larger and capture more market share, and in turn attracting the most affluent clients who seem to gravitate to them.While brick-and-mortar music stores at the time might have only held 40,000 tracks’ worth of audio for customers to buy, Rhapsody — a popular digital music service of the time — was seeing regular downloads of its top 400,000 tracks.Similarly, Barnes & Noble’s physical bookstores at the time carried an average of 130,000 titles, but Amazon was generating more than 50% of its revenue outside its top 130,000 titles.The typical Blockbuster video rental store carried 3,000 titles, but Netflix was generating 20% of its rentals from outside the top 3,000 films. The success of this phenomenon has come to be known over time as the development of a platform business, which can outcompete traditional businesses by focusing not on the stocking and selling of goods, but on creating a marketplace where buyers and sellers can come together in a manner that dwarfs traditional competitors.Thus, as Tom Goodwin once noted in a Tech Crunch guest post, “Uber, the world’s largest taxi company, owns no vehicles.This shift shouldn’t be entirely surprising, as it’s simply the discovery value of the long tail platform continuing to play out.First, internet technology shrunk the middle by providing a way for consumers to locate and buy niche products and services.Then, as the platforms and their discovery capabilities grew — facilitating the tendency of humans to move in herds — the middle shrunk even further as both the most popular and the most niche benefitted.The squeezing of the middle is the inevitable byproduct of these forces.