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Summary: The financial-advice industry attracts a lot of career-switchers. In fact, at many large firms they make up the majority of new recruits. While a second-career advisor may not come as cheaply as a 21-year-old fresh out of school, success in a previous profession is an excellent predictor of future productivity, these firms say. Second-career FAs don’t cost any more or less to train. And advisors who have built a network of solid relationships in their first career often come with an built-in client niche.
Added on November 2013 in M&A Issues
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Summary: Independent advisors are inundated with a variety of information surrounding the present and future value of their businesses. Although many advisors do an outstanding job helping clients manage their net worth and personal equity, more independent advisors need to take the opportunity to manage their own business equity. This white paper will provide insight on how aRIA advisors think about managing their own business equity and provide advisors with a tactical overview of the key drivers of value
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Summary: In this article, Financial Planning Magazine 30 of the top Schools for Financial Planning. Be sure to see which schools are near you for potential internships and new hires.
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Summary: Practice management experts frequently seem to be urging you to create a scalable enterprise, acquire professional management and develop clear metrics that will help you make better operational decisions. It appears that the profession is going through a phase where thousands of practices are taking this advice to heart, becoming businesses either through mergers of equals, acquisitions of firms of retiring advisors, or hiring key employees and turning them into partners.
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Summary: Financial advisers who want to keep managing the wealth their clients' children will inherit should be approaching those kids very differently than the way they appeal to their parents, a generational expert told advisers.Generation X, 34 to 48, and Millennials, also called Gen Y, who are 13 to 33, want an adviser who will teach them but not "tell them" what to do.
