NEW YORK - If it took more than 180 years for the bicycle to evolve into what it is today, one might argue that at roughly 35 years old, the wealth management industry still has some significant development left to go.

"The concept of wealth management, from end to end, is a relatively new one," Sebastian Dovey, cofounder of research firm Scorpio Partnership, told advisors and executives during the opening session at Invest 2015. "Not just for you as practitioners, but equally for the customer," Dovey explained.

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