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Summary: Amazon went from nothing to $150 billion in market cap in just 20 years. What can you learn from its success and apply to your own firm? Brad Stone's new book, "The Everything Store" (Little, Brown & Co., 2013), chronicles the rise, fall and rise again of that behemoth of technology that is Amazon. Here are 7 lessons from “The Everything Store,” that you can use to build your company.
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Summary: Financial advisers who own a firm or have clients who are business owners appreciate the need for sound succession planning. Having a plan in place ensures stability well into the future, which means that clients are more likely to be around for multiple generations.The trick is that a good succession plan is like a battle plan: It's perfect only until it goes into action, and then it's likely to fall apart in five minutes.
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Summary: My belief is that when management and especially leadership in a large advisory firm come from the ranks of the practicing partners, who have grown their careers within the firm, the result is more likely to be a powerful representation of the client service philosophy of the firm and its values in the process of guiding the future of the firm. The opposite is also true. When the firm “imports” its future managers and leaders, the result is often a disconnect between the culture of the firm and the people who set its direction.
Added on January 2014 in Form an RIA
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Summary: The top U.S. securities regulator says its examiners will finally get around to knocking on doors at some of the thousands of investment advisers it has never met, including some waiting for more than a decade for the agency to come calling.
Added on January 2014 in M&A Issues
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Summary: turns out advisory partnerships aren't that different from marriages, and with both, breaking up is no easy task. Professionals who help pairs of advisers decide whether to separate say the aftereffects deserve serious consideration, particularly because clients also will feel the heat
