Added on April 2017 in Form an RIA
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Summary: Last week we wrote about the economic rationale behind going independent vs. moving to another major firm as an employee. As a follow-up topic, we thought it prudent to analyze transition packages attached to big firm moves and peel back the layers of the onion to show the components of these deals.
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Summary: When it comes to client prospecting, entrepreneurs are emerging as among the most sought-after niches, which might have something to do with the fact most financial advisers are themselves entrepreneurs.
Added on April 2017 in Form an RIA
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Summary: Advisors have more opportunity than ever to build the business that they envision. Yet, with all of the different models to choose from within this greatly evolved landscape, we find many are still searching for a utopian opportunity that doesn’t exist.
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Summary: Technology is meant to simplify things, make the financial advisory business more efficient and save advisors time. When Mike Damas set up his independent RIA firm Maryland Capital Advisors in 2005, he found that the technology system he’d invested in was doing the opposite.
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Summary: Delegating is not easy, but it becomes easier once you do it a few times. Delegating is necessary if your goal is to work smarter as you grow your firm. Million-dollar producers delegate! Here’s why… and what steps you can take as you move from being a financial advisor who runs a practice to that of the CEO of your financial advisory firm.
