Added on February 2014 in Form an RIA
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Summary: When Clayton Hartman first sat down with executives at Focus Financial Partners to discuss a proposed "lift-out" of his team of advisers, then all working for UBS AG, he brought a spreadsheet of roughly 1,000 questions.That may have been overkill, but it reflected the size of the team--20 advisers and staff, including Mr. Hartman. It was an unusually large number to leave a brokerage in one swoop and form their own independent firm.
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Summary: Financial advisers who want to attract female clients must carefully craft a message designed for that particular woman's knowledge and interest level.
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Summary: Millennials want to be mentored, Cam Marston, president of Generational Insights, told a packed session at TD Ameritrade Institutional’s national conference here on Friday. Indeed, considering that the advisory industry’s talent shortage and need to attract younger employees as well as clients were among the topics dominating discussions at the conference, it wasn’t surprising that a session promising advice on recruiting for an “age-diverse” workplace drew so much attention.
Added on February 2014 in Join an RIA
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Summary: It shouldn't surprise anyone that if you put nine top recruiters in a room to discuss the state of the wealth advisor industry, they would come down on the side of now would be an excellent time for many of those advisors to make a move. But over the course of the day-long discussions that comprised On Wall Street's 2014 Recruiter's Roundtable, it became clear that their reasons were far from self-serving.
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Summary: Advisers looking to grow their businesses should carefully plot the expansion of their practice. They should expect to suffer a little, too.Business leaders who have succeeded in scaling their companies — growing, say, from two people on staff to 200 — did so with a focus on spreading their convictions, not their geographic reach, two professors at the Stanford Graduate School of Business say in a book due out next month.
