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Summary: The assets under management of RIAs and dually registered advisors (RIAs also registered as brokers) have grown from almost nothing in the mid-1980s to just under $2.8 trillion at the end of 2013, according to data from research firm Cerulli Associates. In the last five years, AUM growth has averaged 14.5 percent vs. 9.4 percent for the entire industry.
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Summary: Successful hiring requires a careful process. It’s almost an art form. When financial advisors tell me they’ve always had “bad luck” in hiring, I usually discover they’re hiring people with the wrong skills or attitude (causing the advisor to fire them) or they aren’t paying their employees properly, they aren’t treating them well or they are failing to give them opportunities to grow in their careers, any of which can cause employees to quit.
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Summary: Inside a small sandwich shop about two years ago in Huntsville, Ala., Wade Sadler made up his mind about how he was going to retire. The Raymond James advisor was having lunch with his colleague and friend Luis Garcia. Sadler, 67 at the time, told Garcia he was trying to figure out how to retire.
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Summary: An interesting array of advanced features have been showing up lately on advisor websites. One clever development has video clips of advisors and clients interacting. In one case, the video runs in the background, with pictures of the firm’s advisors in the foreground. Click on a face and up pops that advisor’s bio.
Added on October 2015 in Form an RIA
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Summary: When you’re running a small business—or even a big one—you’re always looking at efficiencies, and one practice that is the ultimate in creating efficiency is writing policies and procedures manuals.
