Added on April 2014 in Form an RIA
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Summary: Dually registered advisors can provide fee-based advisory services through the RIA wing of the practice while also offering clients a galaxy of commission-based products. Many RIAs like the option because they don't have to send clients elsewhere to purchase insurance or a variety of other products; broker-dealer reps find they can differentiate themselves by offering more fee-based services.
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Summary: When it comes to why the mass affluent, high-net-worth and ultrahigh-net-worth clients would change advisors, it all comes down to not feeling the love. A Vanguard-Spectrem study asked 3,000 investors with net worth from $100,000 to $25 million to rank the main causes for switching financial advisors.
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Summary: The math is simple. The longer an advisor can postpone a sale, the more cash is put in his/her pocket. Whether the sale happens today or five years down the road, the sale proceeds will always be there. In the meantime, an advisor can bank additional income. Indeed, an advisor may be better off waiting (from an economic standpoint) if the client base continues to grow and the market marches steadily higher.
Added on April 2014 in Form an RIA
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Summary: Planner Winnie Sun isn’t afraid of social media. For the past decade, she’s used it to build her firm, Sun Group Wealth Partners of Irvine, Calif. But the LPL advisor says she has serious concerns about new guidance from the SEC allowing advisors to publish links to third-party testimonials from websites like Yelp that rate and publish public comments about establishments ranging from restaurants and plumbers to investment advisors.
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Summary: Your business plan is your formal statement of your business goals, the reasons why you believe they are attainable, and your plan for reaching those goals. This 6-step guide will help you develop and get into writing a formal business plan, including your vision, mission, values, beliefs, goals, strategies and your tactics to meet those goals.
