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Summary: A couple of decades ago, estate-planning attorneys might have gotten by with a legal assistant or two. Today, you may need an army to provide excellent client service. I prefer to call my colleagues and assistants our estate-planning “team”.
Added on May 2016 in M&A Issues
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Summary: For new partners, either starting a new venture or merging their businesses, few conversations are as difficult as discussing what the equity split will be. So, like any potentially messy conversation, it is often avoided. The default is to go with an even split or a split that ensures control to a specific founder.
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Summary: Niche markets for advisors are much more than just a tactic promulgated by marketing consultants. While competition from increasingly large numbers of advisors make niche marketing an attractive client acquisition strategy, advisors who work in niches say that having a market focus also makes them more effective, efficient and profitable.
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Summary: The insights gleaned from visits with clients and prospects—and in many cases, key members of their staff—are invaluable and cannot be replicated in phone conversations, email exchanges or video conferences. Face-to-face interaction is the most powerful and memorable way of connecting with others, and while in-person visits do not scale well and are limiting in a sample set, their interaction, information exchange and subtle nuances reveal a layer of perspective that is otherwise lost.
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Summary: Advisers have fewer challenges and are finding greater success switching firms and going independent, according to a recent industry study.
