As the wealth management industry continues to evolve, becoming more competitive and complex, advisors need to embrace new business models in order to remain successful. A key trend that is front and center in wealth management today is the movement by advisors to embrace fee-based business models and transition away from a commission-based transactional approach.

How can advisors who have yet to embrace fee-based business models take action and ensure their long-term sustainability in a rapidly changing industry?

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