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Summary: Some RIAs are intentional entrepreneurs and some are accidental ones, as one Los Angeles financial advisor puts it. But both types may need help developing the skills required to build a growing firm. Jonathan Foster, founder of Angeles Wealth Management, calls himself one of the former: He started out in the wirehouse sector, shifted to a series of roles at eTrade, Carson Wealth Management and other RIAs before founding his practice in late 2011.
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Summary: People make mistakes. And when the mistake maker is a financial advisor, and the error affects a client, experts say a clear and unambiguous apology is called for. The rewards are easy: client loyalty and trust that goes on for years to come,” writes Xenos. “Also, it helps you as an advisor clear your conscience and feel truer with the relationship.
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Summary: 12th year of the IA 25, annual list of the most influential people in and around the advisor industry. All the editors of the Investment Advisor Group—of Investment Advisor and Research magazines and ThinkAdvisor.com—weighed in over several months to choose individuals who in our judgment have been influential, are influential and likely in the future will influence the markets; how advisors invest and plan retirement for clients; and who will affect the regulatory and legislative environment in which advisors operate.
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Summary: There are tried-and-true battle plans as firms labor to recruit planners into their ranks: poach from rival firms, lure brokers away from the wirehouses, train new graduates to become CFPs, etc.But as HD Vest President and CEO Roger Ochs sees it, the practice of essentially trading advisors with other firms is a zero-sum game. Instead, HD Vest - which believes that a tax return is a "road map" that can help a professional build a comprehensive financial plan - seeks to fulfill its growth strategy by turning CPAs into CFP/CPAs.
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Summary:The average adviser is around 50 years old, and the average client is a few years older. That means the children of our clients are reaching an age when they make independent financial decisions. What happens if they don't feel much of an affinity with you? Hello, next gen. Goodbye, assets.
