Events set to unfold in 2017 will remake the business, and match the pivotal moments of this year, which included the unveiling of the fiduciary rule, key M&A deals, robo advisor launches, Brexit and a stunning election result.
Looking ahead, advisors should expect the regulatory environment to shift yet again. President-elect Trump will select three new SEC commissioners, and his choice for Secretary of Labor — Andrew Puzder — may well scale back the fiduciary rule. Should he follow through, then a new fight will unfold to determine what replaces the regulation.
But even as regulatory battles unfold, new and existing technologies will continue to remake the industry at a rapid pace. Several major firms have plans to roll out robo advisors next year. A new arms race in wealth management technology is taking off.
Advisors can prepare themselves by checking out our cheat sheet of key industry players to watch in the coming year.
17. Andy Rachleff, CEO of Wealthfront
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