Added on May 2014 in M&A Issues
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Summary: Nancy Nelson never planned on selling her practice. "I thought my clients would gradually die, I wouldn't take their kids and my practice would just go down and down," the Olympia, Wash., planner told a crowded room at NAPFA's annual conference. Two things changed Nelson's thinking, she told listeners during a panel on selling a solo firm: She watched a friend sell her solo practice for a lot of money. Then, practically overnight, she wanted out herself.
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Summary: Everyone wants an efficient practice. But what most advisors really love is meeting with clients and pursuing business development activities -- not managing the day-to-day operations of the firm.You may want an efficient organization, but you must be willing to take the necessary steps to attain and sustain it. Start by getting a baseline reading of your firm's efficiency. To do so, answer these four questions.
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Summary: Those of us who have been in the independent financial advisory space for some time should feel vindicated when we look at our industry today. Liberated from having to push proprietary products or make top-down sales quotas, independent advisers objectively offer the widest possible universe of financial solutions and services based on their clients' best interests.
Added on May 2014 in M&A Issues
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Summary: Online advisory services are beginning to have an impact on the valuations of financial advisory firms.The low prices and competitive threat of so-called robo advisors were cited as factors that traditional advisors must take into account when valuing their firms for mergers and acquisitions, say experts at Gladstone Associates' annual advisor conference in Philadelphia.
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Summary: Last October was another milestone for us: we broke free of our broker-dealer. Champagne was in order as we created our own RIA and now work as fee-based advisors. If you managed to look up my FINRA record, you will see we have been with a number of BDs over the last few years. In general, the experiences have been far from stellar. Here is why we decided to create our own RIA.
