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Summary: There is always a dark side to success. The RIA market has been booming for years, consistently taking assets away from the traditional bank/wirehouse community, and now manages nearly $3 trillion in assets.
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Summary: The path of becoming a financial advisor is viewed as a very entrepreneurial one, starting from scratch and building a client base who pay you for services, growing over time into a business that can generate substantial income for the advisor/owner/founder. The growing trend of independent advisors, whether in RIA or broker-dealer form, just further emphasizes the entrepreneurial spirit of the financial advisor community, and their desire to build businesses of value… or at least, a practice that can generate substantial ongoing income throughout their working years.
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Summary: Over the past five years, robo advisors figured out something the rest of the wealth management industry did not – accessibility and convenience are paramount for investors. The business of being an advisor today is just as much about being a service provider as it is being an investment expert.
Added on July 2016 in M&A Issues
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Summary: Plenty of practices are looking to make acquisitions in today’s environment. And having gone through this process multiple times over the last few years, we know that plenty of mistakes are being made along the way.
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Summary: Mark Tibergien writes this month that financial services professionals “lack a venue to showcase what we do and to generate enthusiasm for our world.” Out of modesty, Tibergien didn’t mention that a program he began at his own Michigan high school nearly 10 years ago has created just such a venue that may be part of the solution.
