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Sources
1. InvestmentNews, Flat fees gain traction among advisers critical of asset-based pricing. April 5, 2022.
2. Investment News, Fee revenue surged at the largest IBDs last year. May 2, 2022.
3. RIA Intel, Two Wealth Management Trend Lines Cross for the First Time. June 9, 2021.
4. Herbert & Company
5. CNBC, Battle for client assets heats up as brokers cut fees to zero. October 13, 2019.
6. Investment News, Fee revenue surged at the largest IBDs last year. May 2, 2022.
7. While Schwab was the first large firm to introduce subscription-based pricing, smaller firms and networks like XYPN have offered
subscriptions for nearly a decade.
8. InvestmentNews, Schwab moving to subscription fees could be watershed moment for advice industry. March 29, 2019.
9. Financial Planning, Schwab robo advisor adds $1B in client assets. July 21, 2019.
10. Zuora, Subscription Business Revenue Grows 437% Over Nearly a Decade as Consumer Buying Preferences Shift from Ownership to
Usership (press release).
11. Payments Journal, Consumers in Younger Age Cohorts More Likely to Have Subscriptions. August 18, 2021.
12. Envestnet, The State of Financial Planning and Fees
13. https://www.kitces.com/blog/how-do-financial-advisors-spend-time-research-study-productivity-capacity-efficiency/
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