Annually, Charles Schwab conducts its benchmarking study to gather data in the financial industry. For the 2019 survey, released in July, 1,300 RIAs representing more than $1 trillion in assets participated. The bottom line results revealed that RIAs are doing very well in the current market environment.
Apriem’s President, Rhonda Ducote shared with Financial Advisor magazine how she uses peer comparisons and the structure of other firms of the same size to help determine how to organize a growing firm. Ducote said she uses the benchmarking study to see how the industry has evolved over the years, how Apriem fits in the industry, and how new employees fit into the Apriem structure.
Below is an excerpt:
“I like to see what is changing in the industry,” Ducote said. “We also want to know what clients expect. We’ve built the firm over the last 21 years and we now have four departments: operations, financial planning, wealth management and an investment team.”
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