1 visitor like this article | Viewed 4799 times | 0 comment
Summary: 2013 was another period of sky-high revenue and AUM growth and strong profit margins at advisory firms, according to the InvestmentNews 2014 Financial Performance of Advisory Firms. More and more, the modern advisory firm is looking like a business rather than the small practice of the past. That maturation process has been accompanied by an evolution in the way firms monitor and sustain their success.
1 visitor like this article | Viewed 4330 times | 0 comment
Summary: People starting their careers often worry about their finances, and many don’t know whom to trust for advice, according to a study published Wednesday by Fidelity Investments. Thirty-three percent of survey participants in the 25-to-34 age group — millennials or Gen Yers — identified their parents as the top choice as advisors on money matters, but 23% said they trusted “no one” when it came to advice about money, making this the second most common response.
3 visitors like this article | Viewed 26253 times | 0 comment
1 visitor like this article | Viewed 4371 times | 0 comment
Summary: The recruiting crisis in the financial-advice industry isn’t fueled by disdain so much as by ignorance, says Fidelity Investments. After the fund manager surveyed nearly 800 recent college grads and young professionals, it concluded that the talent shortage is due to a lack of awareness about the profession, not to a lack of interest. In fact, only 20% of those polled had even a rough sense of what advisors do.
1 visitor like this article | Viewed 5327 times | 0 comment
Summary: When we looked at the data from the latest compensation survey produced here at the Ensemble Practice LLC, we found that the second most common job in the advisory industry is “CEO.” Nearly every firm in the survey had a CEO. Yet when we speak with the partners (owners) of advisory firms, most tell us that there are very few “real” CEOs in the industry.
