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Summary: The study, The Financial Capability of Young Adults—A Generational View, found that low levels of financial literacy hamper most Millennials (age18-34), with only 24 percent of Millennials able to answer four or five questions on a five-question financial literacy quiz correctly. And among young Millennials – those 18 to 26 – only 18 percent were able to answer four or five questions correctly.
Added on March 2014 in M&A Issues
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Summary: Sandy Johnson's best business decision was to participate in an Ameriprise Financial Inc. experiment 20 years ago that brought individual advisers together to operate as a group practice. Today, her Proviant Group boasts operational efficiencies that would turn both smaller and larger firms green with envy
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Summary: Goal setting can have a significant impact on your firm's future organization and success. Yet traditional, rational economic theory suggests goals should focus on relatively short-term strategies - specifically, those related to expanding your business in order to make more money. This concept is deeply ingrained in our capitalist system. Business goals that are too narrowly focused, however, or have too short a time frame can create impediments to becoming a great company. How should companies change their decision-making process to propel them to enduring success? Savant Capial Management has some suggestions.
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Summary:When preparing to sell your practice, understand that transitioning from the business will require years of time with no shortcuts. There is a strong correlation between the amount of time one gives to succession and the seller’s satisfaction with the price and outcome of the exit.Don’t let a lapse in time commitment hurt your succession plan and diminish the value of the sweat equity you have accrued.
Added on March 2014 in M&A Issues
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Summary: In a study of 140 senior executives, Fidelity Institutional found that more than half (55%) expect to boost revenue from their wealth management practices 25% or more in the next five years. Nearly one-third (31%)— those having made the most progress in developing their wealth management businesses and identified in the report as “pacesetters”—anticipate that wealth management will contribute 35% to total bank revenue in five years’ time.
