Is the sale by Ameriprise Financial of its Securities America advisory services unit to Ladenburg Thalmann a harbinger of yet another wave -- or wavelet -- of consolidation in the asset management industry?

Certainly back in 2009-2010, in the wake of the major crash in markets and the dramatic pullback of shell-shocked investors into safe havens like bank accounts, there was a wave of consolidations of all sizes and a significant decline in the overall number of financial advisors. Now, reports are showing that investors are again pulling their money out of not just equities but also fixed income and hybrid funds and putting their assets into money market funds, the types of investments that hardly require the assistant of an advisor.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access