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Summary: When it comes to succession planning, one of the most common misconceptions we see is “I have a partner in the business. The future of my firm and clients is protected”.
Added on February 2016 in Form an RIA
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Summary: Almost every financial advisor contemplates whether or not to break away from a traditional wirehouse or brokerage firm and establish an independent advisory practice. In this three-part series, we hope to help advisors make the best decision for their business and clients. This first installment reviews the primary concerns about whether independence is right for you: access to client solutions, simplicity in day-to-day business and compensation earned by you, the advisor.
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Summary: Advisory firms spend more money on compensation than on any other expense, so getting it right just makes good business sense. Your compensation plan should define the behaviors you value the most and reflect what you are willing to pay to attract and retain key talent. I have found some consistent compensation misconceptions across advisory firms.
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Summary: Given the large number of solo practitioners and silo practices that make up the planning universe, succession planning is typically a difficult problem. Replacing a seasoned sailor with a fresh recruit is replete with challenges and can carry a significant risk.
Added on February 2016 in Join an RIA
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Summary: Instead of an office, conference room or coffee shop, Priya Malani prefers to meet her clients for drinks.Wearing a leather top and jeans with holes fashionably cut into the knees, the 33-year-old advisor and founding partner of Stash Wealth, a Brooklyn-based financial planning startup, says she knows her style won’t appeal to everyone. When it comes to financial discussions, some people need the suit-and-tie gravitas of traditional institutions.
