Added on May 2016 in M&A Issues
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Summary: Even advisers with decades of experience buying and selling investments for clients may have no experience selling a financial advisory practice.Experienced advisers sometimes make rookie errors when they look to sell their firm or merge it with another, experts say.
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Summary: Now, some in the business think the biggest “F” word to impact their business is the fiduciary rule announced by the Department of Labor last month. But I contend another “F” word will make engaging current clients and attracting new ones more difficult than ever: fragmentation.
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Summary: Trying to be “outside of the box” makes you very un-creative and incredibly un-productive. Organizations love to say they are removing limits. Open floor plans, “matrix” organizations, and “thinking groups” are being implemented and pushed forward in an effort to drive collaboration, creativity and innovation
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Summary: Look at almost any financial publication these days and there always seems to be a mention of one or more firms getting bigger from organic growth, merger or acquisition. Just from the sheer number of mentions you get the impression bigger is better and a good measure of success. This idea isn’t unique to the wealth management industry. Everywhere you hear about “growth,” “being great,” or “leading the industry” as necessary to survive in business.
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Summary: Everyone loves to be helpful. Because of this, you have a great opportunity to learn more about your prospects and clients if you learn how to ask the right questions at the right times.
