Advisors report higher fees, Schwab’s Clark says, but also an increase in services

Amid profound changes in the financial services industry, advisors can still manage to collect higher fees, but typically must deliver a broader range of services to clients, says Schwab Advisor Services Executive Vice President Bernie Clark.

Speaking at SourceMedia’s In|Vest conference, Clark also highlighted the impact of substantial cost compression. “If you can lower cost, you increase yield. It’s prevalent across all asset types and pushing down what has been the economic model of our industry,” Clark said.