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Summary: Recruiting a wirehouse advisor can be well worth the effort for growth-minded RIA firms -- but it's not easy, it takes time and you should expect a lot of false starts.
That's the message from Neal Simon, founder and chief executive of Highline Wealth Management, whose firm was the subject of a new case study for think tank and study group aRIA.
Added on March 2014 in Join an RIA
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Summary: John Anderson, creator and lead author of Practically Speaking blog and Managing Director of Practice Management Solutions for the SEI Advisor Network shares tips for those starting out their career.
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Summary: A few years ago, my firm invited some of our “A” clients to participate in a focus group. The objective was to determine whether we were delivering the proper solutions for them and their families. There was one aspect that these clients thought was unique, and we received rave reviews for it.
Added on March 2014 in Form an RIA
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Summary:In early 2012 I posted a blog on a change I had made in my business structure. Specifically, I closed the LLC and changed to a C Corp. That blog garnered a lot of good comments, as many advisors were interested in reducing their own tax burden. That year, 2012, was the first in which I filed as a C Corp and 2013 will be the second. Now that I have had some time under the new structure, I thought I'd reveal the results.
Added on March 2014 in Join an RIA
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Summary: A former advisor at Edward Jones, whom the firm unsuccessfully sued for $5 million after he left it in 2012, tells ThinkAdvisor his former employer has a “Kool-Aid culture.” That’s why John Lindsey, the advisor in question, takes time from running his new firm, Westlake Village, Calif.-based Lindsey and Lindsey Wealth Management, to counsel other advisors on the verge of following his example by leaving a “captive” or “full service” for independence.
