From Financial Planning
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Summary: When it comes to taking care of their own finances, it turns out that planners aren’t much better than their clients.Almost half (46%) of all the nearly 2,400 planners who participated in a new FPA study this year say they have no retirement plan. Another half say they have not written a business plan for themselves, while 75% have no succession plan for their firm.
From Think Advisor
Added on December 2013 in M&A Issues
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Summary: Succession planning, like one’s mortality, is something advisors are often reluctant to think about. But just as your clients need to get their affairs in order in case untimely but far-reaching events affect the lives of their loved ones, so too must advisors have a succession plan in place — for solid business reasons in addition to mere contingency planning.
From Financial Advisor IQ
Added on December 2013 in Join an RIA
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Summary: Anyone who has decided to pursue independence after leaving a wirehouse had better be prepared to shed the mentality such institutions foster, experts say. Running a business simply calls for a different set of priorities than those required to thrive within the cozy confines of a megabank.Getting set to manage things — like office overhead, market intelligence, staff development, client care and the technology for pulling it all together — previously supplied by the head office requires constant vigilance and a sound perspective
From Financial Planning
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Summary: Looking to expand your team and boost performance? Executive search veterans Kathy Freeman Godfrey and Jeff Warren have a few suggestions for recruiting and hiring financial advisors At the recent Echelon Partners Deal Makers Summit in Santa Monica, Calif., the pair laid out a step-by-step game plan for advisors trying to bring on new talent. Here are seven of their suggestions.
From WealthManagement
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Summary: Growing from a practice to a small business means hiring support staff. But for many financial advisors, moving into the role of employer and manager doesn’t come naturally. Here’s some tips.
