Added on November 2013 in M&A Issues
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Summary: Fidelity Institutional Wealth Services, a division of Fidelity Investments®, today unveiled new research from the 2013 Fidelity RIA Benchmarking Study that found two-thirds of participating firms (67 percent) reported they don’t have a succession plan ready for implementation
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Summary: Most firms subject new hires to trial by fire. As a result, many say they experience disorder, lack of clarity, and confusion. Very few firms, even the best, engage in thoughtful training. This suggests that advisors can do better when it comes to preparing team members to succeed. Considering the time and thought required to design, develop and deploy formalized training programs, it’s no surprise that the advisory profession doesn’t have a mature training model. Here are some ways to help new hires thrive.
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Summary: That year-end bonus no longer motivating staffers as it once did? Maybe it’s time to revamp the compensation model, an Advisor Perspectives blog suggests.The blog acknowledges decades’ worth of research showing that employees find motivation in things other than compensation — “achievement, recognition, work that’s challenging and fulfilling, autonomy, and the opportunity to learn and progress,” for example.
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Summary: Call it the secret sauce, the black box or the hidden magic: What, exactly, do high-performing advisory firms do differently than their less successful peers? Fidelity Investments drew back the curtain last week, offering key insights from the firm’s latest RIA Benchmarking Study to a packed room of advisors attending Fidelity’s annual Inside Track NYC Conference.
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Summary: When veteran financial advisors Eric Clark and Cheryl Sherrard were trying to come up with a moniker for their new practice, they were determined to keep their names out of it. “We didn’t want the brand tied to anyone in the firm,” says Clark, president of 10-month-old Clearview Wealth Management, a practice in Charlotte, N.C., with about $52 million under management. “You have to think ahead 10 or 25 years, when the people now involved may be retired or even at other firms.”
