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Summary: In the case of Darrell Reese and Paul Kink, the fact that they were both Raymond James advisors was an important factor in Reese’s quick and seamless purchase of Kink’s Montana advisory firm. But they say they were lucky in their timing, and that they share the same values, thereby making the transition that much smoother.
Added on January 2016 in M&A Issues
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Summary: Even if advisors nearing or at traditional retirement age have formulated succession plans, it's often impossible for younger advisors to think of buying their practices because they lack the funds.
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Summary: Financial advisers are targeting growth in 2016, with many seeking to boost assets and clients in the new year by using a variety of strategies, including better tech, hiring the right talent and improving marketing. Other planners aim to rev-up client service during a year with lots of expected market volatility. And then there’s the adviser who aspires to fire his worst clients! Do your resolutions for the year ahead match any of these advisers’ top goals?
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Summary: 2016 will be an especially interesting year because of the pending fiduciary decision and the November presidential election. About 62% of advisers said the DOL fiduciary standard will be their top concerns next year, according to the InvestmentNews 2016 Outlook survey. Even so, most advisers are quite optimistic about the coming year.
Added on January 2016 in Form an RIA
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Summary: It’s not easy being one of the largest RIAs in the country, even with RIA AUM growth outpacing that of wirehouses. Finding the right talent in a small pool of the most qualified advisors is tough — especially when you can’t dangle a name brand like Credit Suisse or J.P. Morgan before them.
