Added on April 2017 in Join an RIA
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Summary: CFP Board Center for Financial Planning has launched a campaign to attract younger and more diverse individuals to the industry. Called I am a CFP Pro, the campaign is accessible online and features a diverse group of young people telling their stories about how and why they joined the profession and invites others to do the same.
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Summary: The concept of fiduciary duty might not yet be fully grasped by consumers, but it is starting to make inroads into mainstream discourse. Clients don't always know what it means to be a fiduciary, but they know they should ask if their adviser is one — and know the answer they want to hear.
Added on April 2017 in M&A Issues
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Summary: As retirement nears for aging wirehouse advisers, many are contemplating how they can cash out. And they are bumping into a trend that is sweeping across the industry: independent practices can sell for a higher value than wirehouse practices that are transitioned to other wirehouse advisers. One senior marketing executive at a major custodian calls it an arbitrage among platforms.
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Summary: According to CEG Worldwide research, 70% of top financial advisors (those earning $1M or more annually) focus on a particular niche. Why does focusing on a target market improve an advisor’s chances of success? Here are some reasons.
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Summary: [Slide Show] The culture of a firm is what makes clients and employees want to join and stay, but business growth and some other factors can threaten even the strongest firm culture, said Ben Harrison, head of business development and relationship management at Pershing Advisor Solutions. He’s warning advisers to avoid making these mistakes that can cause an unraveling of the very fabric that made a firm succeed in the first place.
