Broker dealers

The founders of today’s most successful advisory firms won’t change because of an “invisible scar,” says columnist Bob Veres.

A new industry snapshot highlights record firm count and AUM, while continuing steep client growth fueled in considerable part by the rise of robos.

Convinced that clients want as much human interaction as ever, the Wall Street firm is using machine learning to help its financial advisers stay informed and work efficiently.

"I don’t have one yet, but I want one," says Tom Halloran, president of Voya Financial Advisors.

Planners using the latest digital tools report higher AUM than their colleagues, Fidelity says.

The firm's advisers and competitors are wondering about its next steps, and who will cash in. The answers will go a long way toward shaping the future of the independent channel.