Added on July 2014 in M&A Issues
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Summary: Announcing a merger can be tricky, especially since there are many stakeholders who each need to receive the right message: employees, clients, prospects, referral partners/centers of influence, vendors, the community and the media. Your goal is to get each of these audiences excited about the change and address any fears they might have.
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Summary:When we ask owner-advisors why their firms aren't growing (or aren't growing faster), they invariably tell us, “We’re not getting out there enough. We need to network better and get more prospective clients in the door.” As it turns out, in the vast majority of cases we see, they are half right—and unfortunately, they usually focus on the wrong half.
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Summary: Social media has made the opinions of others even more important to our decision making and advisors should pay attention. Consumers used to depend mainly on two factors when making a buying decision: Prior preferences or marketing, according to a recent article in the Harvard Business Review. In the past a third factor, other people’s opinions, had been only a minor influence. But with the rise of social media, the opinions of others have become a dominant force in purchasing decisions. Research indicates that this is especially true for purchases that involve higher levels of service interactions
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Summary: Neuroscientists will tell you that the best time to absorb important information is when you're relaxed. Our summer reading list may be work-related, but reading these gems away from the office makes all the difference. We've talked with advisors to compile a list of the top books you should be sure to read this summer. The return on your investment will be intangible, but substantial - enjoy your vacation!
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Summary: Judging by the amount of coverage succession planning has been getting in the trade press in the past couple of years, it is one of the most pressing problems facing the independent advisory industry today. It's certainly an issue for tens of thousands of baby-boom age owner-advisors who are quickly approaching retirement age—and for the younger advisors in their firms who are hoping to take control and bring those firms into the 21st century.
