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Summary: Business-planning challenges such as succession planning, gaining scale and maintaining growth may not be acute today; however, if advisors choose not to plan for their future, they may fall into the land of unintended consequences, including degradation of firm value, limited growth, an aging client base and limited choices/control about the future of their business.
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Summary: Much has been written lately about the aging of individuals who own RIA firms and the lack of succession planning that has been done by this group. Now sensitive to the problem, we are not only realizing how important the solution is for the future success of the firm, but also how difficult it can be not just for large firms like our own, but even more so for smaller firms with fewer options.
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Summary: The right hires -- made in the right way, and at the right time -- are critical to retaining talent and fueling growth for financial advisory firms.That’s according to three innovative advisors who shared some of their human capital secrets this week at the FPA’s annual conference and via a new white paper.
Added on October 2013 in M&A Issues
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Summary: Fidelity Institutional Wealth Services recently held the inaugural M&A Idea Exchange as part of their expanding mergers-and-acquisitions and consulting program for advisory firms. The sole purpose of the gathering was to discuss the state of M&A and how to better support the industry’s growth through M&A.
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Summary: Too few advisors have a coherent business plan and many choose to ignore key structural issues. Independents are guilty of some of the same questionable practices of which they accuse wirehouse reps. Advisors who believe they are well-positioned to sell their businesses at the end of their careers for a decent price are, for the most part, mistaken. The objective is to help avoid “catastrophic outcome” for advisors ignoring warning signs
