Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
All Articles
2013 Fidelity Millionaire Outlook Executive Summary: Gen X/Y Millionaires Not Sitting Idle
Added on November 2013 in Thought Leadership
1 visitor like this article | Viewed 3558 times | 0 comment
Summary: The Fidelity Millionaire Outlook, now in its 6th year, is an in-depth survey that analyzes the investing attitudes and behaviors of millionaire households. This year’s survey takes a close look at Gen X/Y millionaires — who they are, their lifestyles, how they’re investing, and where they turn for help.
Small Firms Try to Fill Adviser Shortage
Added on November 2013 in Manage Your Practice
1 visitor like this article | Viewed 4119 times | 0 comment
Summary: Pershing and FA Insight, a Tacoma, Wash., research and consulting firm, estimates that the industry needs 237,000 new advisers within the next 10 years to keep pace with market demand as well as replace those retiring. An average of about $850 billion in new investable assets will come available each year over the next decade.
Advisors, Take a Bow: The 2013 People and Pay Study
Added on November 2013 in Manage Your Practice
1 visitor like this article | Viewed 4240 times | 0 comment
Summary: This year marks the fifth release of the annual FA Insight “Study of Advisory Firms.” The five-year history of the studies underscores the resilience of the advisory industry. During this period, notable for a global financial meltdown that shuttered major Wall Street firms, advisory firms struggled to maintain their footing. Trying times forced firms to tighten management controls with a new level of discipline that appears to have held through a return to stability.
Smart Recruiting Can Secure Your Succession
Added on November 2013 in Plan for the Future
1 visitor like this article | Viewed 3533 times | 0 comment
Summary: Industry observers say the extent to which independent advice firms can keep stealing market share from big-name rivals like Merrill Lynch and Morgan Stanley depends on their ability to transition to next-generation owners. Extending an established trend, indie RIA assets grew by 19% last year, while AUM at the four biggest brokerages were essentially flat, according to Cerulli Associates. Bigger RIAs can merge with approximate equals or acquire smaller firms to see them into the middle of the century. But for smaller RIAs, the best way forward may lie in smart recruiting.
Buying a Practice? 5 Important Valuation Questions
Added on November 2013 in Plan for the Future
1 visitor like this article | Viewed 3501 times | 0 comment
Summary: Practice acquisition (acquiring a retiring advisor's practice) is an incredibly lucrative way to grow your business exponentially, and as advisors age, there will be ample opportunity for younger advisors to acquire practices. In the next 10-15 years, there's going to be a glut of “for sale by owner” practices, but the simple fact is that they are not going to be worth the multiples that are being thrown around now. Here are five things to ask the selling advisor and the appraiser before you buy a practice.
