Added on August 2016 in M&A Issues
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Summary: Buyers accounted for nearly half of M&A transactions last year and nearly 40% of acquisitions for the first half of 2016, according to Fidelity Investment's latest Wealth Management M&A Transaction report.
Added on August 2016 in M&A Issues
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Summary: Practice acquisition (acquiring a retiring advisor's practice) is an incredibly lucrative way to grow your business exponentially, and as advisors age, there will be ample opportunity for younger advisors to acquire practices. In the next 10-15 years, there's going to be a glut of for sale by owner practices, but the simple fact is that they are not going to be worth the multiples that are being thrown around now.
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Summary: One of the industry's largest life insurance companies recently filed a motion for secrecy in a lawsuit against them for allegedly singling out and charging certain policyholders substantially more for the cost of insurance. This is another example of efforts to keep policyholders and advisers in the dark, denying the information essential to the prudent selection and proper management of life insurance. This is also an opportunity for advisers to develop new business by adding a flashlight, a ruler, and a bag for money, to your toolbox.
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Summary: Many financial planners have long advised their clients to pay less attention to the media to avoid making investment mistakes, and new academic research is backing their counsel.
Added on August 2016 in Form an RIA
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Summary: The majority of financial advisors believe they’ll have to change how they do business in light of the Department of Labor’s fiduciary rule, but few are aware of their firms’ plans to comply with the rule designed to force retirement brokers to put clients’ interests ahead of their own, according to a quarterly survey from Nationwide Retirement Institute.
