Added on March 2016 in M&A Issues
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Summary: Advisors looking to build up their practices can make it happen in two ways: organically or by purchasing clients. Although growing organically is typically a cheaper way to secure business, it can take time and a lot of effort. It also involves marketing, which can sometimes be hit or miss.
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Summary: Compensation is a hot topic in the wealth management world these days. A week doesn’t go by without meeting an advisor who’s amending a company's plan or thinking about it.
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Summary: Succession is an issue for advisers and their clients nationwide at a time when the average age of registered investment advisers is estimated to be in the mid 50s, reports The Wall Street Journal. The problem is many independent advisers are the sole professionals in their firms and about 62% of those advisers don’t have a succession plan, according to Boston consulting firm Aite Group
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Summary: When it comes to generating new business, most professional services firms rely on referrals. In fact, according to our study of 530 professional services firms, generating referrals ranked highest in terms of current marketing priorities.
Added on March 2016 in Form an RIA
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Summary: The Department of Labor's impending fiduciary rule has prompted advisers to review their strategic plans and weigh the expanded role technology will play in keeping advisory practices in compliance, as well as profitable.
