Added on May 2014 in M&A Issues
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Summary: Move over, benchmarks and multiples. There's a new valuation tool in town: key performance indicators. While KPIs may not replace multiples of cash flow in a purchase agreement, they are becoming increasingly important as a way for owners of financial advisory firms to enhance the value of their business, according to Owen Dahl, president of Gladstone Analytics.
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Summary: What group is 85-million strong, holds $1.5 trillion in purchasing power and drives the market in every industry but health care? The under-35 generation known as “millennials. Financial advisors know by now that they cannot ignore this group. But Brandon Moss, a 35-year-old managing director for United Capital Private Wealth, which has roughly $10 billion in assets under management, homed in on that point at the Dallas Women Advisors Forum.
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Summary: After 40 years with Merrill Lynch, Mr. Rij was joining the legions of advisers who have broken away from the big Wall Street brokerages to join an independent firm or create their own. The trend, which began years ago but gained momentum after the 2008 financial crisis, is slowly reshaping the industry and eroding what had been a dominant position for so-called wirehouse firms like Merrill Lynch.
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Summary: Independence is more than just a transition; it’s a transformation, an opportunity to own what you’ve created and a legacy you can pass on. Here are 20 stops as you travel on your road to independence.
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Summary: Young financial advisors are already showing discerning observers what their business will look like in the not-too-distant future, Bob Veres writes in Advisor Perspectives.The practice-management guru sees a number of big changes coming into view, either ushered in or embraced by advisors younger than 36. Among them are innovations touching on custodial relationships, fees, technology and marketing.
