Knowledge and Insight
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RIAs Lead The Way In Advisor M&A Activity
Added on April 2014 in M&A Issues
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Summary: The number of merger and acquisition deals among registered investment advisors jumped 20% in 2013 versus the prior year, according to figures from Schwab Advisory Services. At the same time, the total assets purchased in those deals dropped by 26% and the average deal size sank by 38%.That’s because the largest share of the 54 transactions done last year were RIAs buying other RIAs (44%), as opposed to 2012 when so-called strategic acquiring firms were the leading buyers and accounted for 53% of the 45 deals.
Ric Edelman's Workday Strategies
Added on April 2014 in Manage Your Practice
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Summary: The one part of your daily routine that is essential to having a productive workday? Good calendar management. I’m not referring to time management. By calendar management I mean having the next day fully mapped out, so the night before I can review the coming day and make sure I’m fully prepared for it: have I pre-read received materials, researched issues so I’m conversational, prepped for meetings I’ll be in, familiar with everyone I’ll be interacting with and resolved on the outcomes I’ll want obtained.
Career Options for Breakaway Brokers Grow
Added on April 2014 in Join an RIA
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Summary: Job options for the most successful wealth managers just keep growing.Around six years ago, a wave of small but high-profile firms emerged to target high-producing financial advisers, many of them seeking new alternatives to working at the major Wall Street brokerages such as Morgan Stanley, MS +0.13% Merrill Lynch and UBS. sing a variety of business models, these smaller firms, including HighTower Advisors, Dynasty Financial Partners and United Capital Financial Advisers, tapped into the so-called breakaway movement of brokers who wanted greater independence.
Financial adviser: Maybe not the sexiest job, but among the best paying
Added on April 2014 in Join an RIA
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Summary: A job as a financial adviser may lack the cachet of a position with a white-shoe Wall Street investment bank, but when it comes to salary and flexibility, the industry can make a pretty good pitch.This is especially true for top brass. Partners at financial advisory firms can expect to make a median salary of $324,000 per year, according to InvestmentNews Data. Those in the lower ranks, however, may spend much of their 20s wishing they had picked a more lucrative profession.
Voices: Joe Birkofer, on Becoming a Financial Planner in Middle Age
Added on April 2014 in Join an RIA
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Summary: For 11 years, I've taught a class for Rice University's Certified Financial Planning program. I see teaching as an opportunity to keep my skills sharp and give back to the industry. As a financial planner, it's good to say that I'm teaching what I'm preaching. I normally encounter two kinds of students. The first are career enhancers--established advisers who are looking to add the CFP designation and return to their jobs. The second kind of student--the career changer--doesn't have it nearly as easy.
