From Investment News
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Summary: Writing a succession plan isn't too difficult. Overcoming the concerns that inhibit advisers from tackling the project in the first place is. The chief stumbling blocks that stand in the way of advisers' creating a plan include concerns over sharing client records, fears about giving up control and getting past the anxiety of dealing with younger advisers. It also takes much longer to plan and execute a succession than generally thought.
From Investment News
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Summary: Advisory firms that lack a documented career development path may jeopardize their chances to recruit the best young talent, according to some industry experts. “The larger firms are getting better at institutionalizing the process of training and development, and can tell a candidate, "Here is what we will teach you and here is the career track at the three-, five-, and 10-year mark,'” said Michael Kitces, a principal with New Planner Recruiting LLC, which specializes in placing early-career planners.
From RIAbiz
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Summary: Fourteen thousand advisors fell by the wayside from 2009 to 2010 but dually registered advisors and RIAs have bucked that trend, gaining strength in numbers, analysts with Cerulli Associates say in a new study. In that time period, the number of advisors dropped from 334,160 to 320,378 – a loss of 4.1%, according to the Boston-based company its annual Advisor Market Sizing analysis. Dually registered advisors grew a whopping 10.2% from 11,591 to 12,773.
From RIAbiz
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Summary: All advisors should have a continuity agreement, even if they do not have a final succession plan in place. Every year, we hear of advisors who die unexpectedly. Untimely deaths without a contingency plan translate to a distressed sale price for family left behind. The clients too are left without a critical service. The initial plan does not have to be perfect.
From TD Ameritrade
Added on October 2011 in Join an RIA
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Summary: TD Ameritrade attracted a record 348 breakaway brokers in 2011, up nearly 20 percent from the previous fiscal year.
