Knowledge and Insight
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Financial advice business grapples with diversity challenges
From InvestmentNews
Added on January 2014 in Join an RIA
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Summary: While America is only decades away from becoming a minority-majority country, the financial planning industry is still stuck with demographics that are eerily reminiscent of a 1950s sitcom. At 76% male, the industry claims only a slightly higher proportion of women than in police jobs nationwide, according to the Bureau of Justice Statistics. Young people don't fare well either, with more than half of planners topping 50.
Advisors Can Fill Obamacare Knowledge Gap
From Financial Advisor Magazine
Added on January 2014 in Thought Leadership
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Summary: A financial advisor who knows the ins and outs of the Affordable Care Act (ACA) and Medicare will have a huge advantage over those who do not, according to John Carter, president and COO of Retirement Plans for Nationwide Financial. According to the Nationwide survey, What Americans Don’t Understand About ACA, 75 percent of boomers do not know that the ACA does not cover long-term care. Likewise, 76 percent do not know their personal benefits under ACA and 37 percent do not know what the ACA exchanges are
What Do Young Near-Millionaires Need? Advice. What Don't They Have? Advisors.
From Think Advisor
Added on January 2014 in Thought Leadership
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Summary: A survey by Fidelity Institutional Wealth Services goes some distance in providing the answers regarding next generation of millionaires and what the opportunities are for advisors who structure their offerings to attract them.
Survey Reveals Why the Ranks of RIAs Are Growing
From Think Advisor
Added on January 2014 in Thought Leadership
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Summary: “2013 AdvisorBenchmarking All-Channel Study,” was released last month by WealthManagement.com. The study polled some 2,400 financial advisors “across all channels,” identifying trends among “top performing advisors” (based on growth in AUM and profitability), and more importantly, differences between various advisor channels. Even with only a few data points, those “differences” reveal why the ranks of RIAs are growing, while most other advisor groups are shrinking.
Succession: the solution within
From InvestmentNews
Added on January 2014 in Plan for the Future
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Summary: When it comes to their own retirement, growing numbers of advisers seem to be looking within their firms for an exit strategy. Across the country, consulting firms that specialize in brokering, structuring and providing legal advice on deals involving registered investment advisers are seeing more and more firms broadening ownership or facilitating sales to junior partners, according to several consultants who specialize in the space.
