From Financial Advisor IQ
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Summary:When preparing to sell your practice, understand that transitioning from the business will require years of time with no shortcuts. There is a strong correlation between the amount of time one gives to succession and the seller’s satisfaction with the price and outcome of the exit.Don’t let a lapse in time commitment hurt your succession plan and diminish the value of the sweat equity you have accrued.
From Bank Investment Consultant
Added on March 2014 in M&A Issues
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Summary: In a study of 140 senior executives, Fidelity Institutional found that more than half (55%) expect to boost revenue from their wealth management practices 25% or more in the next five years. Nearly one-third (31%)— those having made the most progress in developing their wealth management businesses and identified in the report as “pacesetters”—anticipate that wealth management will contribute 35% to total bank revenue in five years’ time.
From Think Advisor
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Summary: If 2013 was the year financial advisors started thinking about their succession plans, this is the year to start the actual planning. One of the biggest (and possibly most common) missteps in succession planning is procrastination. While the average age of the advisor continues to rise (mid-50s and counting) the competition for talented young planners has become fierce and the idea of M&A seems more and more attractive.
From Think Advisor
Added on March 2014 in M&A Issues
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Summary: RIAs overtook strategic acquiring firms as the leading buyer of advisory firms in 2013, according to data released Tuesday by Schwab Advisor Services. Mergers and acquisitions are up overall, too, although the amount of assets under management acquired in those deals dropped.
From wealthmanagement.com
Added on March 2014 in Join an RIA
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Summary: RIA and dually registered advisory channels will grow their share of the advised assets to 26 percent by 2016, up from 21 percent today, according to a new report by Cerulli Associates. That growth will largely come at the expense of the wirehouse channel, said Cerulli associate director Kenton Shirk.
