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Summary: Girard Securities, a San Diego-based independent broker-dealer, has just completed a yearlong project to go paperless. The paperless project was time-consuming and involved several teams, but it has resulted in better workflow tracking and electronic signatures at the IBD, said Claire Maurer, associate vice president of adviser relations for Girard, which is now in the process of being acquired by Nicholas Schorsch's RCS Capital Corp.
Added on September 2014 in Form an RIA
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Summary: For advisors looking to break out of wirehouses, legacy firms or banks, going independent doesn’t necessarily mean they'll be going it alone. In fact, there are a number of essential components of a practice that are vital to an independent start-up. An experienced transition team, a solid custodian and legal and compliance counsel are just a few of the critical partners you will need to rely on. Here is a detailed list of the most important business partners and their respective roles.
Added on September 2014 in Form an RIA
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Summary: As a counterpoint to the flurry of articles about "big data," many industry pundits are addressing the value of "small data." In my world, small data refers to the information I can access and interpret from my own resources within my RIA firm. Four tools make this possible for me: A CRM system (Junxure), portfolio accounting software (PortfolioCenter), re-balancing software (TRX) and tax preparation software (Lacerte).
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Summary: Fiduciary advisors are in peril. The brokerage industry is smothering fiduciary advisors in a well-oiled Wall Street-Washington lobbying campaign. Their strategy: persuade policymakers and regulators that "best interest" advice harms investors, while higher cost, opaque products sales help investors.
Added on September 2014 in M&A Issues
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Summary: Thinking about selling your advisory firm or valuing it for succession planning? Think discounted cash flow. "The future cash flow - essentially the profitability - of an acquired company pays back an investor on their investment," explains valuation expert and strategic consultant David DeVoe. "The best way to value a company is to determine what those future cash flows will be."
