Broker-Dealers, Under Siege, Look Toward Second-Half Comeback
June 24, 2020 by Rich Blake
The broker-dealer (BD) industry can still salvage 2020, shaking off downturns and downgrades to return to some semblance of profitability in the second half of the year, industry members said.
Crass, a cliché, but still true: Out of crisis comes opportunity.
“There may be relatively more money in motion, probably to advisors who are more planning-centric,” said Kenneth Kehrer, principal, Kehrer Bielan Research & Consulting.
With great opportunity comes great responsibility to take advantage of one entirely new game-changing factor: “improved advisor productivity from the use of virtual meetings and digital interaction,” Kehrer said.