According to Fidelity’s 2017 RIA Benchmarking Report, 60% of advisors are regularly discounting fees. 60 % The M&A wave in wealth management With the unstoppable passage of time, the wealth management industry has been characterized as “aging advisors serving aging clients.” Not only is the baby boom generation well into retirement age, but the average principal of an advisory firm is nearing 60. Nipping at the heels of these mature firms are new, technology- powered competitors. Robo-advisors may no longer be leading news, but now we’re also seeing discount brokers and big asset managers unbundling TAMP services, adding online CFPs and driving investment management fees to zero. This is one of many factors aggravating pricing pressures—according to Fidelity’s 2017 RIA

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