From InvestmentNews
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Summary: Bert Herzog III doesn't have plans to step aside anytime soon from Executive Wealth Management, the Brighton, Mich.-based advisory firm he founded in 1981. But the 61-year-old already has a plan in place to ensure that his $900-million investment advisory firm that manages money for 3,000 households will continue for decades after he leaves.
From ThinkAdvisor
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Summary: It’s easy for owner advisors to make mistakes as they work on growing their businesses. Focusing too much on “making money” is on that list.
From Financial Planning
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Summary: Advisors have no excuse for not taking cybersecurity seriously. They’ve heard about the risks — the potential losses to their reputations and their bottom lines. At the same time, the SEC has publicly detailed its focus areas, such as risk assessment, data loss prevention, vendor management and incident response. What has been less obvious, however, is how examiners evaluate firms to determine whether they pass the test.
From Financial Planning
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Summary: Up to now, the planning profession has largely been populated by career changers. But if it is to grow as a profession, that has to change. True professions are made up of people who have graduated from a specific college curriculum.
From ThinkAdvisor
Added on June 2019 in M&A Issues
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Summary: ThinkAdvisor had the chance to catch up with BNY Mellon|Pershing Advisor Solutions CEO Mark Tibergien at the firm’s recent RIA Symposium in Chicago. We got his thoughts on M&A trends, the breakaway movement, RIA affiliations and what RIAs can expect going forward.
