McKinsey & Co. weighs in on the future of RIAs -- where it has 'zero business' -- and comes up with the same boilerplate prediction about the demise of mom-and-pop shops

McKinsey reports have been viewed as must-reads for going on 20 years now (if not longer), yet they've never been insightful wrt where the industry is actually going. If the best they can do is note that the industry should consolidate, then I agree, they should stop publishing their views. That said, the fact that the industry HAS NOT consolidated much in the past 20 years suggests the catalyst for change hasn't arisen yet...so why not? Perhaps McKinsey should examine that angle and begin to delve into what those catalysts could be. There's a lot to explore there...What would make the industry begin to consolidate? I have my ideas. Hint - it won't come from the institutional players; it'll come out of left field and hit the industry square in the face taking both big and small players out simultaneously. It'll come with a new business model and delivery options and leverage technology in a far more customized way than available today. It will integrate across financial verticals and won't have to be sold; it will be sought out.