Cumberland Advisors has been included in the Financial Times 300 list, their top US registered investment advisers in 2019.
The top RIAs have been trying to build scale to serve more clients with a greater range of demands. Investors expect more information, more guidance and more of a personal touch, according to advisers recognised in this year’s list.
In response, FT 300 advisory companies have edged up the number of employees involved in providing investment advice — from working with clients to researching funds — from a median of 13 employees in last year’s list to 15 this year. Advisers are also investing in technology such as customer relationship management software and online portals for clients.
It is telling that 48 per cent of the FT 300 advisory companies reported that they are concerned about having adequate technological tools, making it the top challenge for the group. The second biggest challenge, advisers say, is hiring and retaining the right personnel, cited by 31 per cent of those in the list.
These elite advisers have also been pursuing mergers and acquisitions to gain scale.
Read the full article at www.ft.com