Added on December 2013 in Join an RIA
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Summary: “RIAs are the sole growth story in a shrinking industry” of advisors, said Bing Waldert, a Cerulli Associates director commenting on the findings in its Cerulli Edge-U.S. Asset Management Edition report released today. Specifically, the report says the number of advisors in the RIA channel grew at an annualized rate of 8% over the years 2004-2012, while other advisor industry channels declined by 1.2% to 2.5%.
Added on December 2013 in Join an RIA
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Summary: In undertaking the disruptive process of leaving a full-service national brokerage — one of the four so-called wirehouses — for independence in the RIA channel, few breakaway brokers jump ship to escape their branch managers. Industry watchers and ex-wirehouse advisors say that changes in the role of the branch manager, especially as it has evolved over the past decade, have helped to fray the bonds between restive brokers and the companies they work for.
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Summary: Trend emerges of 20-something advisers taking on meaningful work sooner. Increasingly, firms are treating the traditional apprentice-type model training as more of a reciprocal relationship. And they are seeking the input of young and would-be advisers in a number of different ways.
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Summary: Most advisors will lose clients’ assets when they are passed down to the next generation. Julie Littlechild, CEO and founder of Advisor Impact, spoke with REP. about where advisors are going wrong, and what they can do to fix it.
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Summary: Too many lone advisors are failing to plan for emergencies, putting their businesses—and clients—at risk. Solo advisors face many unique challenges, but perhaps the biggest is that they are, in bad times as well as good, solo. According to a REP. magazine survey, a significant portion of these advisors have no contingency plan in place should they unexpectedly not be able to continue working.
