BOSTON - The future of the investment advisory industry depends on reducing the cost of doing business, said Mark Casady, Chairman and CEO of LPL Financial, in the opening keynote at the Money Management Institute’s 2011 annual convention, which kicked off Wednesday here.

Casady wasn’t just talking about lowering the direct costs to advisers on items such as technology, but also reducing adviser and money manager fees to their clients.

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.