NEW YORK - The financial advisory business has reached a tipping point. Gone are the days of low barriers to entry, robust markets and a seemingly endless source of new clients.

That was the message delivered by JPMorgan Asset Management here last week, when it predicted that rising compensation levels, higher operating costs, compressed margins and overall distressed market conditions will force a significant shakeout among advisors.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.