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The firm is “looking to aggressively compete” by lowering and simplifying the fees on its advisory platforms, a top executive says.

The firm expects shareholders will save an estimated $3.2 million, annually.

The firm plans to focus on raising money for products that lock up capital for several years, according to people with knowledge of the matter.

David Jordan is vice president and global head of consulting and services integration at Tata Consultancy Services.

“The amount of capital available to this industry is small relative to the size of the need,” says one new lender.

Mainstays of the sector like Commonwealth, Cambridge and Northwestern Mutual are contributing to it, but smaller firms are also driving change.

While income growth and declining mortgage rates have boosted affordability nationwide, not all markets are experiencing the shift.

Joseph Byrum is an accomplished executive leader, innovator, and cross-domain strategist with a proven track record of success across multiple industries. With a
diverse background spanning biotech, finance, and data science, he has earned over 50 patents that have collectively generated more than US $1 billion in revenue. Dr. Byrum's groundbreaking contributions have been recognized with prestigious honors, including the INFORMS Franz Edelman Prize and the ANA Genius Award. His vision of the "intelligent enterprise" blends his scientific expertise with business acumen to help Fortune 500 companies transform their operations through his signature approach: "Unlearn, Transform, Reinvent."

Dr. Byrum earned a PhD in genetics from Iowa State University, USA, and an MBA from the Stephen M. Ross School of Business, University of Michigan, USA. He can be reached at www.josephbyrum.com.

Depression can be a big risk for seniors as they transition to retirement.

The rule can create significant tax savings, but in unskilled hands it can just shift the burden elsewhere.