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Summary: In 2019, we reported on our annual subscriber data to provide insights to advisory firm principals as they refine their firm's succession and strategic growth plans. A completed RIA Match profile includes comprehensive information from up to 72 data points. This aggregated data offers insights from over 5,100 subscribers. Download the Subscriber Infographic where we provide a snapshot of the advisor types, trends and goals. Be curious and communicate with your matches!
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Summary: I offended an entire table of fellow financial advisors while attending a conference last year when I made this statement: “Everyone at this table makes too much money relative to what we do.”
Added on January 2020 in Form an RIA
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Summary: For years, there’s been an ongoing tug of war in the financial services industry about standards of care, compensation and business structure. Based on what was once almost the expanded Department of Labor fiduciary rule and the Securities and Exchange Commission’s new Regulation Best Interest rule, one might believe advisers who charge an asset under management fee are the “good guys” and everyone else the “bad guys.”
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Summary: Rarely does life or business play out as intended. Many advisors avoid planning for succession until upheaval occurs. Those who do plan in advance are often blindsided when their next generation bolts for greener pastures. Because we cannot predict the future, my approach to succession planning is very Buddhist — plan for what you want and don’t be attached to the outcome. How does this work?
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Summary: The advisory business is moving quickly these days with mergers and acquisitions, new technology and growth of assets under management. In a new white paper, Morningstar and Mercer outlined five 2020 trends wealth management firms and family offices can’t miss to make sure they differentiate themselves from the competition.
