Against a backdrop of global economic uncertainty, the potential end to the US equity bull market, continued industry fee compression and regulatory scrutiny, wealth managers are faced with significant headwinds that could destabilize their core business in 2020.

Coupled with the continual rise and disruption of the independent channel, primarily registered investment advisors (RIAs) and independent broker-dealers (IBDs), and consolidated discount broker landscape, incumbents should consider a recalibration of strategic initiatives to prioritize new revenue streams and drive cost-efficiency.