Acquiring an Advisory Practice: A Decision Beyond the Math

Acquiring an Advisory Practice: A Decision Beyond the Math

16.05.2019
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Consider the emotional side of buying an advisory practice with Charlie Latimer.

By: Charlie Latimer, Director of National Recruiting
Published March 20, 2019
It’s well reported that M&A in the wealth management space in 2018 (and extending into Q2 2019) has been robust across all channels and most notably among independent advisors at IBDs and RIAs (of all sizes). Deal valuations are approaching pre-2008 levels of 6 – 8X …

RIA Compliance Management Part II – There Has to Be a Better Way

20.03.2019
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RIA Compliance Management with PAG

By: Charlie Latimer, Director of National Recruiting
Published March 20, 2019
Last week in Part I of our RIA Compliance Management blog, we discussed the overwhelming responsibility advisors face in minimizing their exposure to risk when it comes to compliance issues. It’s an all-encompassing job for even a highly qualified CCO, which many independent firms lack.
RIAs …

RIA Compliance Management Part I – There Has to Be a Better Way

13.03.2019
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RIA Compliance Management: What Are the Options for Advisors?

By: Charlie Latimer, Director of National Recruiting
Published March 13, 2019
Compliance management in the RIA industry is quite literally an industry unto itself. Every RIA, whether state registered or SEC-registered, has its own Chief Compliance Officer and unique compliance program. Most of us don’t pay close attention to the sheer size of the RIA industry, but …

Affiliating with an Independent Broker Dealer: Evaluating Your Options – Part 2

15.01.2019
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Affiliating with an Independent Broker Dealer: Evaluation Your Options – Part 2

By: Charlie Latimer, Director of National Recruiting
Published December 19, 2018
Continuing on the theme from part one of our blog series, I previously described the three options advisors have when affiliating with an Independent Broker Dealer (IBD), including starting an RIA (most difficult), affiliating with the IBD’s Corporate RIA (where the advisor can choose …

Affiliating with an Independent Broker Dealer: Evaluating Your Options – Part 1

15.01.2019
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Evaluating All Independent Broker Dealer Options

By: Charlie Latimer, Director of National Recruiting
Published December 12, 2018
Advisors going independent have various options to consider when affiliating with an independent broker-dealer (IBD). One option is to start their own RIA, where the IBD serves as both custodian (for advisory business) and broker-dealer (for brokerage business). This is typically referred to as a “hybrid” …

Advisor Accreditations and Designations – Supercharging Your Value

24.10.2018
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Financial Advisor Accreditations

By: Charlie Latimer, Director of National Recruiting
Published October 24, 2018
Financial advisors in growth mode make ongoing investments in all aspects of their practices, including technology, process automation, human capital, and marketing. It could be said that the efforts advisors make in improving their practices is more of a journey than a destination and that the …

Three Tips When Buying a Financial Advisory Practice

19.09.2018
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Three Tips When Buying a Financial Advisory Practice

By: Charlie Latimer, Director of National Recruiting
Published September 19, 2018
Are you in the market to grow your financial advisory practice inorganically through acquisitions? You are not alone! In fact, we have been in a seller’s market for some time, where there is a much higher ratio of buyers to sellers chasing a limited …

Three Things Advisors Should do to Get the Most out of their CRM

6.06.2018
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CRM technology is advancing, and it’s worth advisors’ attention and investment.

By: Charlie Latimer, Director of National Recruiting
Published June 6, 2018
Client Relationship Management systems (CRMs) have been around for over 20 years and while most financial advisors use a CRM of some kind, many are missing the true power of the technology. At the very basic level, advisors use CRMs like Salesforce and

Perspectives on a Post Broker Protocol World as Wirehouses Bail

20.03.2018
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More Advisors are Choosing to Leave Wirehouses in a Non-Protocol Environment

By: Charlie Latimer, Director of National Recruiting
Published March 21, 2018
Up until five months ago, wirehouse financial advisors enjoyed a period spanning fourteen years under the “cease fire” protection of the Broker Protocol where they could transition their practices to virtually every other channel, including other wirehouses, independent broker-dealers, RIAs and RIA roll-up firms, …

Are We Witnessing the End of the Broker Protocol?

4.12.2017
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Are We Witnessing the End of the Broker Protocol?

By: Charlie Latimer, Director of National Recruiting
Published December 6, 2017
Whether you are an institutional advisor considering becoming an independent advisor or you’ve already made the jump to independence, you are no doubt closely following the exit of Morgan Stanley and UBS from the Broker Protocol. The Broker Protocol is a voluntary agreement that …

Five Steps to Protect your Advisory Business from a Cyber Attack

15.11.2017
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Protect your Business

By: Charlie Latimer, Director of National Recruiting
Published November 15, 2017
The financial industry could be the most vulnerable sector to cyber attacks, with troves of personal information and financial information tied to trillions of dollars in wealth. Each day another high profile cyber attack seems to take place somewhere in the world. Recent examples of massive …

Five Trends That Will Shape the Financial Advisory Industry in 2018 and Beyond

18.10.2017
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By: Charlie Latimer, Director of National Recruiting
Published October 18, 2017
It’s interesting to sit back from time to time and ponder the forces shaping our industry. From my perspective, I can’t help but feel like there’s a tug of war in our midst, a battle of interests pushing and pulling on each other and inevitably drawing …

Joining an Independent RIA: Take Three Steps in the Right Direction

6.09.2017
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Join an independent RIA

By: Charlie Latimer, Director of National Recruiting
Published September 6, 2017
With summer winding down and the crisp fall weather just around the corner, here are three actions you can take now if you have been considering changing broker-dealers. Knowing your worth and market value, understanding your contractual obligations and recognizing the importance of the RIA model …

Broker-Dealer Dissatisfaction: Stories from the Front Lines of Recruiting

2.08.2017
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By: Charlie Latimer, Director of National Recruiting
Published August 2, 2017
A single occurrence or event may be random. Two gets your attention. Three? Three redirects your energy. This past week I had three conversations that resonated with a common theme: broker-dealers continue to operate under economic stress. As a result, service levels drop off, rash platform …

Less is More in Broker-Dealer Transitions: Avoid the Sugar Crash!

21.06.2017
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By: Charlie Latimer, Director of National Recruiting
Published June 21, 2017
Attention advisors, here’s a counterintuitive thought to noodle on: If you’re seeking to transition broker-dealers or maximize your long-term economics, you should focus on the broker-dealer that provides the least amount of upfront benefits (aka, transition assistance). In fact, if you follow that simple rule, you …