A new Cerulli report says that firms adding compliance and monitoring capabilities to their rep-as-portfolio-manager platforms are making the unpleasant discovery that a significant number of advisors "do a poor job of steering client assets."
As a result, according to The Cerulli Edge—U.S. Edition, August 2017 issue, most executives foresee an increase in home-office discretion as underperforming advisors are identified and convinced to use portfolios created by the headquarters consulting group.
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