Registered Investment Advisors - They keep on growing

I get a newsletter from the Registered Rep magazine and this article caught my eye.

http://registeredrep.com/newsletters/wealthmanagement/rias_still_wooing_full-service_clients_0819/

It talks about how RIAs keep growing and are poaching work from the full service banks. This is something we experience on a daily basis as we hear from more and more advisors saying they are starting an RIA or are joining an existing firm. From my point of view, the interesting part of this article is the growth management that firms go through, mostly around hiring new people. What we are seeing is that as more RIAs launch and they popularity grows, the firms work to continue to grow and see their margins erode a bit and the growth cycle marches on. This is where services like what PPS offers comes in. We can prevent the need for another new hire and can usually provide a better service to the client as well.