From Financial Planning
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Summary: I recently worked with an adviser whose firm has been expanding its ownership for the past 10 years. He summed up his succession planning process this way, “Succession planning should be about doing what's best for the clients, the business and protecting all of your constituencies.” In other words, succession planning is about taking care of your firm’s future.
From Diamond Consulatants
Added on April 2017 in Form an RIA
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Summary: I am asked countless times a week by smart and curious advisors about how the economics of going independent compare to the present value of taking a check from a wirehouse or other major brokerage firm (today maxing at 175% cash up front). Figuring that the question is a valid one and that it is on so many people’s minds, here is my answer.
From ThinkAdvisor
Added on April 2017 in Join an RIA
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Summary: CFP Board Center for Financial Planning has launched a campaign to attract younger and more diverse individuals to the industry. Called I am a CFP Pro, the campaign is accessible online and features a diverse group of young people telling their stories about how and why they joined the profession and invites others to do the same.
From InvestmentNews
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Summary: The concept of fiduciary duty might not yet be fully grasped by consumers, but it is starting to make inroads into mainstream discourse. Clients don't always know what it means to be a fiduciary, but they know they should ask if their adviser is one — and know the answer they want to hear.
From OnWallStreet
Added on April 2017 in M&A Issues
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Summary: As retirement nears for aging wirehouse advisers, many are contemplating how they can cash out. And they are bumping into a trend that is sweeping across the industry: independent practices can sell for a higher value than wirehouse practices that are transitioned to other wirehouse advisers. One senior marketing executive at a major custodian calls it an arbitrage among platforms.
