Knowledge and Insight
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Succession-planning program at Cambridge is bearing fruit
From Investment News
Added on March 2012 in Plan for the Future
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Summary: Representatives and financial advisers with Cambridge Investment Research are taking advantage of a succession-planning program that gives junior reps access to capital to buy into senior reps' practices while the broker-dealer, in return, gets a piece of the action. Called Continuity Partners Group LLC, the program was launched two years ago and has seen the number of practices joining the program double, with 46 offices now on board.
Wharton Professor Gives Advisory Model Radical Makeover
From Advisor One
Added on February 2012 in Join an RIA
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Summary: Kent Smetters, a Wharton Professor, has created a platform for advisors to be able to scale their practice while serving the underserved Middle America. Veritat is a platform that does the client scheduling, collection of client information, creation of the personalized plans and the portfolio management. The advisor must approve and can slightly alter before it is presented to the client.
Fed up wirehouse advisors more eager to leave than ever, study says
From www.riabiz.com
Added on February 2012 in Join an RIA
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Summary: Three out of four wirehouse advisors would take action if a recruiter called them about the prospect of joining an RIA, according to a study released today by The Charles Schwab Corp. Of those surveyed, 67% of wirehouse advisors worry about job security and report that added responsibilities make it hard to meet clients’ needs. Moreover, 51% said they find the idea of becoming an RIA appealing. “
Don't ask advisers what their firms are worth, they don't know
From Investment News
Added on February 2012 in M&A Issues
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Summary: Three-quarters of advisors have never conducted a formal evaluation to nail down the value of their firm according to a preliminary finding from IN Adviser Solutions' first-ever study of Succession Planning in the financial advisory business.
Knowing the actual value of a firm is a critical element of a succession plan. And incidentally, just one-in-three advisory firms actually have a succession plan in place, according to the IN Adviser Solutions group's 2010 Financial Performance of Advisor Firms Study.
Finding Success in Succession Planning
From Advisor One
Added on July 2011 in Plan for the Future
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Summary: Two stories, one in the broker dealer world, one in the RIA space.
Kim Nourie, of San Antonio-based Cross Financial Services became her father’s succession plan and found her successor through her local FPA chapter. Their broker dealer, United Planners Financial Services has a platform called Connectup to help their advisors.
Like Nourie, Aspiriant CEO Rob Francais says the RIA’s succession planning policy was born of necessity. The firm, with 42 owners and 120 employees, has a structured policy in place for associates to achieve equity and security, but it wasn’t always the case.
