Added on April 2019 in M&A Issues
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Summary: The Overland Park, Kansas-based RIA has made its sixth purchase of the year buying Singer Xenos Schechter Sosler, an advisory firm in Coral Gables, Florida with more than $1.3 billion in assets under management. And Mariner CEO Marty Bicknell says he’s not done yet, as he hopes to complete approximately six more transactions by the end of the year.
Added on April 2019 in Form an RIA
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Summary: Having helped many RIAs with marketing, I find that the firms that are most successful in their efforts are those that have established a message, plan, and resources before they begin.
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Summary: The Financial Industry Regulatory Authority said Wednesday that it has formed an Office of Financial Innovation to be headed by Haimera Workie.The new office “will serve as a central point of coordination for issues related to significant financial innovations by FINRA member firms, particularly new uses of financial technology, or fintech,” FINRA states.
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Summary: The financial advisory industry is evolving, with client demands shifting and substantial demographic changes underway. Today’s investors expect financial advisors to incorporate digital technologies into their client experience and business practices: according to a study by Ernst & Young, 53% of investors report digital channels and self-service capabilities are the primary factors influencing their advising experience. In conjunction with this trend, client demographics are shifting significantly, with 10,000 baby boomers reaching retirement age each day—spurring increasing demand for advisors.
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Summary: Independent advisors rely on custodians for technology, products and support. But RIAs with low AUM don’t always have access to them. Where should these firms turn? Seek out smaller custodians. Check out TAMPs. Or plead your case to the big guys, industry insiders say.
