From Financial Planning
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Summary: Advisors from all over the country descended on Chicago for the Envestnet Advisor Summit, held May 14 to 16. Sessions ranged from the usefulness of new enhancements to the firm's cloud-based advisor software to discussion panels on investment, planning and practice management topics. The article provides some key takeaways from the conference.
From Financial Planning
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Summary: For Quest Capital Management, an internal buyout turned out to be the best way to solve a succession planning dilemma. When a founding partner wanted to step down, Dallas-based Quest initially planned to use an external sale to give him a way to cash out, said Kalita Blessing, one of the firm's second-generation partners. But after a three-year dance with banks, RIAs and investment bankers that lasted from 2007 to 2010, Quest's shareholders changed their mind.
From CNBC
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Summary: The academic community is doing its part to fill the growing need for more financial advisors. With numerous studies suggesting there could be an acute shortage of financial advisors as the baby boomer generation of advisors retires from the industry, universities and colleges are launching new financial-planning programs and educating more students specifically for a career as a financial advisor.
From wealthmanagement.com
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Summary: WASHINGTON -- FINRA may have dropped its lobbying campaign for legislation to expand oversight of investment advisors, but the industry regulator is interested in a new proposal from one SEC commissioner to beef up examinations of the RIA industry.
From wealthmanagement.com
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Summary: Living and working in Harrison, Ark. (population: 15,000), Ken Savells took an appropriately small town approach to marketing. “I got on the phone and then I met with people,” says Savells, who started his practice Centurion Financial Services in 1999. “I just know a lot of folks in town. It was all through face-to-face relationships.” Savells continued following that tack until about four years ago, when he found he had to spend a lot more time serving clients than gathering new ones.
