Added on April 2015 in M&A Issues
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Summary: Rules of thumb can be convenient – and dangerous. When at the butcher, it’s good to know that roughly half a pound of meat will feed a person. Using this rule of thumb helps ensure that your dinner guests don’t leave hungry or you don’t waste a few extra dollars per person.
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Summary: Much is being written these days about the need for succession planning in our profession. According to CNBC, “Data produced by research firm Cerulli Associates suggest a bleak outlook for the industry. Aging advisors are expected to retire in droves over the next two decades, and relatively few young people are entering the industry to take their place.
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Summary: A long-ago boss often reminded us that our business obligations extended to five constituencies: our clients, our employees, our community, our business partners (vendors and suppliers) and our industry.
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Summary: When it comes to pricing, charging clients a percent of assets under management — often around 1% — remains the heavyweight champion of the independent financial advisory world. Yet the venerable model faces challenges from a variety of contenders, including variations on flat fees, hourly billing and charging on a percentage of other financial metrics.
Added on April 2015 in Join an RIA
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Summary: Starved for young talent, brokerages are trying to sell a new generation on the joys of becoming an adviser. One key to doing that, they have learned, is to not call advising a sales job.
