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Summary: Much has been made of the crisis facing the financial adviser industry as aging advisers exit and the industry searches for younger advisers to step in. According to the latest from Cerulli Associates Inc., over 100,000 advisers are projected to leave in the next ten years — a full third of the industry. Just like in every industry, there is a natural evolution of growth, maturity and then a disruption or tipping point, often caused by technology, that transforms it to take on a different shape and direction.
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Summary:One of the most useful lessons I've learned during my time as an adviser to corporate executives is the importance of developing an area of expertise. It's one of the founding principles that my partners and I operate on as a firm and it's a good concept for us to remind ourselves of as advisers: You cannot be all things to all people.
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Summary: The topic of continuity/succession planning is on everyone’s minds these days. Aggregators see an opportunity to acquire additional assets. Young advisors see an opportunity to grow their firms. Custodians want to ensure those assets remain in their custody despite any change of control.
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Summary: t goes without saying that successful advisory practices are built on working long hours, developing the right skills and leaning on experts for help. But along the way, sometimes an event or situation arises that gives a fledging financial adviser that needed boost to help him or her realize their dreams: the lucky break.
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Summary: Lifestyle practices get a bad rap. But one of my main goals when starting my RIA was to build a business and a life that met my needs. I’m taking some steps that intentionally provide balance to both sides -- and encourage you to do so as well. Here are a few strategies that are working for me.
