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Summary: All financial advisers want direct, deeply personal relationships with wealthy families. As the chief investment officer for one Midwest-based family office told me, "The only way to provide valuable advice is to truly understand them."
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Summary: Many small-business owners know all too well what it is like to take risks, work long hours and juggle multiple priorities. But even many of the most successful of them drag their feet when it comes to succession planning, if they bother to do it at all.
Added on September 2014 in M&A Issues
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Summary: Given the oft-cited graying of the RIA industry, many advisers seek to monetize their businesses and provide continuity for their partners and clients alike. Acquisition negotiations raise numerous difficult issues, but a threshold hurdle is how much a prospective acquirer believes an RIA is worth versus the owner's perception of its market value.
Added on September 2014 in Form an RIA
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Summary: As regulatory reporting demands increase, software providers are coming up with new products to help broker-dealers and advisory firms comply.
Added on September 2014 in Form an RIA
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Summary: When a financial-advice practice becomes a business, the seemingly subtle semantic shift can actually herald a big increase in litigation risk. No longer are advisors simply serving clients on their own or as part of a team. Rather, they own a real asset composed of business processes, staff and investment strategies. But along with this asset’s rewards and autonomy comes the notion of business risk, including the possibility of getting sued. Financial advisors should watch for these three emerging litigation threats.
