How to succeed in (the) business: 5 tips from top wealth managers

Summary: The generation of entrepreneurs who hung out their shingles as fee-based financial advisors in the 1980s and '90s had a wide-open market opportunity. The simple idea of charging a fee and not being paid based on the actions or products you recommend was a novel concept in the retail investment market, and it has paid off in spades. We asked leaders of some of the top fee-based wealth management firms in the country for advice to would-be entrepreneurs in the advisory industry. Their five suggestions follow.