Knowledge and Insight
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The Practical Math of Succession
Added on April 2014 in Plan for the Future
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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.
Serious Concern, Optimism Follow New SEC Social Media Rules
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.
6 steps to a perfect business plan
Added on April 2014 in Manage Your Practice
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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.
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.
