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Finding the Successor to Your Business. Where Can You Find the Next Generation of Advisor to Take Over Your Practice?

Finding the Successor to Your Business. Where Can You Find the Next Generation of Advisor to Take Over Your Practice?

Published August 16, 2017
Originally published at WealthManagement.com as a special feature in the Mid-Year Outlook 2017
It comes as no surprise to learn that over 65% of financial advisors have no fully documented succession plan according to a recent study Private Advisor Group conducted. After all, advisors in …

Are You One SEC Audit Away from Being Out of Business?

Are You One SEC Audit Away from Being Out of Business?

By: Kevin Sullivan, Guest Blogger and Director of Compliance
Published August 9, 2017
It seems like everyone wants to be an RIA these days. With the bureaucratic mindset and regulatory overreach at many wirehouses and broker-dealers, I get it. More and more gets piled on to the advisor. Why not break away and go it …

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

Broker-Dealer Dissatisfaction: Stories from the Front Lines of 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 decisions are made in the name …

Up, Up and Away! The Stock Market Continues to Defy the Gravity of Headline News

Up, Up and Away! The Stock Market Continues to Defy the Gravity of Headline News

By: Guy Adami, Director, Advisor Advocacy
Published July 26, 2017
It seems like these days, the markets are making new all-time highs. It is seemingly impervious to negative headlines and events that historically would have derailed the moves higher. For further proof, one needs to look only at the CBOE Volatility Index®. Currently we find …

The Advisors Guide to Growth: Start with a Business Plan

The Advisors Guide to Growth: Start with a Business Plan

Published July 19, 2017
Every Financial Advisor Should Have a Business Plan
It is a proven fact that financial advisors who create a business plan and execute against that plan are more profitable and more efficient than those who do not. And yet, according to a variety of different industry research, between 30- 55% of advisors actually …

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

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

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 will inevitably end up looking at …

Why an RIA’s Willingness to Get Fired by Clients is a Mandatory Mindset — Now Especially Under the DOL Rule

Why an RIA’s Willingness to Get Fired by Clients is a Mandatory Mindset — Now Especially Under the DOL Rule

Published June 14, 2017 (Originally published on RIABiz)
Yet the advisor may still be to blame for their own ‘principled’ dismissal before making a real effort to get at the underpinnings of a client’s thinking.
Last year, John and Mary came to Tim, their financial advisor, wanting to liquidate enough investments to make …

The Death of the Friendly Broker Dealer

The Death of the Friendly Broker Dealer

Published June 7, 2017
“Parking” a license at a broker-dealer when you are not performing any brokerage functions for the firm has been a long-standing, albeit illegal, practice on Wall Street. Financial firms have used under-the-table agreements as a way to retain and attract new talent by promising to keep reps registered when they are no …

Key Takeaways from 2017 PAG Conference for Independent Advisors

Key Takeaways from 2017 PAG Conference for Independent Advisors

Published May 17, 2017
As an independent financial advisor, professional development and continuing education is key to the success of the business. To fill that need, there are many opportunities to learn about new technology, the latest in financial advisor marketing, or how to better manage your practice. But the annual PAG conference stands out from …

The Advisors Guide to Going Independent: Questions You Need Answers To (Part 2)

The Advisors Guide to Going Independent: Questions You Need Answers To (Part 2)

Published May 10, 2017
There are many shades of what and how advisors think in terms of going independent. Until advisors actually take on the task of proper due diligence, they will undoubtedly have some misconceptions about it. For some it’s clearly an economic choice, but for the vast majority, economics are coupled with any combination …

The Advisors Guide to Going Independent: Questions You Need Answers To (Part 1)

The Advisors Guide to Going Independent: Questions You Need Answers To (Part 1)

Published May 3, 2017
Choosing to go independent is a decision you shouldn’t take lightly. You may wonder what makes a good candidate for going independent. Is there some magic formula, skill set, or something else one should possess? The answer is no. Every one of the thousands of advisors who have gone independent has had …

The Impact of French Election on Global Markets

The Impact of French Election on Global Markets

By: Guy Adami, Director, Advisor Advocacy
Published April 26, 2017
Although there are many interesting things going on in the world right now, I thought I would start with some comments made last week by IMF Managing Director Christine Lagarde. When asked about the upcoming French elections, Lagarde said a strong showing by Far Right candidate Marine …

The Advisors Guide to Changing Broker-Dealers

The Advisors Guide to Changing Broker-Dealers

By: Jim Perhacs, Guest Blogger and Managing Director
Published April 12, 2017
Choosing to leave your broker-dealer is not an easy decision. It’s a major move that can alter the course of your business and impact your future success. Paperwork and legalities aside, there are many steps advisors can take to plan for an effective, smooth transition. …

Left at the Altar: Why Do So Many Advisor Acquisitions Fail?

Left at the Altar: Why Do So Many Advisor Acquisitions Fail?

Published April 5, 2017
Growing your advisor firm through mergers and acquisitions can be an effective growth strategy, allowing you to capture more clients and additional assets. Selling a book of business can also be an attractive succession plan, helping advisors who may need a flexible retirement solution. Acquisitions have been gaining in popularity over the …

Why Cybersecurity Matters for Financial Services Firms

Why Cybersecurity Matters for Financial Services Firms

By: Kevin Sullivan, Guest Blogger and Director of Compliance
Published March 29, 2017
You get to your office early Monday morning as geopolitical events over the weekend are rocking the markets. You have several voice messages lined up and are running through them as you log onto your computer. This message opens on your screen.

Ransomware scams are …