Added on October 2013 in M&A Issues
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Summary: As the financial planning profession matures, there is a growing interest in the opportunities to buy and sell financial planning practices, both for investors, for existing firms looking to grow, and for new planners looking to enter the business. However, industry statistics suggest that relatively few deals are happening (and are generally only for larger firms).
Added on October 2013 in Join an RIA
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Summary: Mark Tibergien has long warned about the looming talent shortage in the advisor industry. Pershing, where Tibergien released a report that quantifies the shortage and explores how successful advisors are bypassing the shortage by taking significant human capital steps now. How the advisor demographic challenge can be solved to everyone’s benefit—including clients
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Summary: For financial planners, succession plan, or lack there of, merits attention regardless of the amount of assets they manage. Clients care about who will takeover their assets if something happens to their advisor.
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Summary: This article talks about a strategy to find a durable business model. It follows Rob Francais, CEO of Apiriant, as he explains how the strategy works. For RIAs who want to ensure clients that their firm will endure to serve their children and grandchildren, a robust internal succession plan is critical.
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Summary: As the RIA business becomes more competitive, effectively creating and utilizing public relations and marketing techniques to distinguish yourself from the rest of the pack is becoming increasingly important. It is important to establish strong, positive connections with journalists and other media sources. Strong public relations can help to combat the trend in scandals and general distrust that many have with RIAs. Finding a niche is important because that is where the growth of the firm will begin.
