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Summary: The statistics on the unhappy fates of family businesses are well known in the wealth-management world. Only 30 percent of family businesses make a successful transition from the founders to the second generation, 13 percent make it to the third generation, and just 3 percent make it to the fourth.
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Summary: Few companies aim for high turnover and low productivity. Yet many lack a clear strategy for onboarding new staff, and the lack of an onboarding process has been shown to increase employee turnover and decrease productivity.
Added on August 2014 in Join an RIA
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Summary: Triad Advisors said early Tuesday that it launched Triad Hybrid Solutions, an RIA platform aimed at small and midsize independent financial advisors. The new RIA model will be led by Michael C. Bryan. Triad Hybrid Solutions expects to attract investment advisors of RIAs that deal with multiple state registrations, those who do not have the desire to dedicate staff and resources to RIA maintenance, or breakaways from wirehouses who may prefer an established structure,” the company said in a press release.
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Summary: Ric Edelman is looking to hire a successor.The founder of one the largest RIAs in the country is actively headhunting for a new president and chief operating officer for Edelman Financial Group -- and hopes the new hire will ultimately replace Edelman himself as CEO.
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Summary: RIAs may be the fastest growing channel, but despite the recent billion-dollar breakaway teams going independent, wirehouse advisors are still more productive. The wirehouses employ a total of 54,189 advisors, but manage $6 trillion in client assets, according to Aite Group’s 2014 Wealth Management report. Meanwhile there are 58,112 independent RIAs, but they only oversee $2.3 trillion in client assets—less than half of the assets held by the big brokerage firms.
