The Threat to 80 Percent of Financial Advisor Profits

Fee-based financial advisors increasingly find themselves caught between a rock and a hard place. Their income from their clients' assets under management (AUM) — the source of their profits — slipped in 2015, due to competitive pressure (that's the rock), including pressure from robo-advisors (that's the hard place). And that trend is likely to get worse — except for advisors who take remedial actions, says a new study from Fidelity Investments.