Team-based practices outperform across key measures, including assets under management (AUM), services offered and productivity, according to the report Top-Performing Teams: Exploring the Benefits and Approaches of Building a Team-Based Advisory Practice from Cerulli Associates and Osaic, one of the nation’s largest providers of wealth management solutions.
The wealth management industry has seen a widespread increase in the development of multi-adviser practices to drive growth and increased scale. According to Cerulli, nearly half of advisers now operate in a team-based structure. The trend of teaming is even more pronounced among the largest advisory practices — 94.5 percent of practices with greater than $500 million in AUM operate in a team-based structure, compared to only 5.5 percent that are solo practitioners.
The advantages of teaming are multifaceted. Teams benefit from streaml
