Added on February 2012 in Join an RIA
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Summary: “Fidelity Insights on Independence Study” is a survey Fidelity conducted on breakaway brokers in collaboration with Cogent Research. The findings confirm the antidotal evidence; 94% reported that that they are happy with their decision, more than 75% are better off financially and 86% said that all or most of their clients moved with them.
Added on February 2012 in Form an RIA
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Summary: Fear of Flying depicts two advisors, one from the East Coast and one from the West Coast, who leave their respective wirehouse firms and start their own RIAs. The advisors describe their choice points, fears, challenges and success.
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Summary: Pershing Advisor Solutions (PAS), the RIA custody division of BNY Mellon, on Thursday released Developing a Sustainable Business and Succession Plan: An Independent Advisor’s Guide, a 30-page practical PDF guidebook that presents detailed steps advisors can take to build a business plan and a succession plan. The guidebook, developed with Advisor Growth Strategies LLC, the practice management consulting firm led by former Schwab executive John Furey, presents stark figures on the relatively small number of advisors who have developed formal business and succession plans, including research showing that fewer than a third of RIAs have either defined or implemented a succession plan.
Added on January 2012 in M&A Issues
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Summary: 4thQuarter 2011 M&A deals were down in volume. Schwab Advisor Services reports that there were only 57 M&A deals involving RIAs for the full year 2011 representing approximately $44 billion in total assets. There were 70 deals in 2010 representing $63 billion in AUM. It’s worth noting, however, that the 57 deals were still the second-most ever recorded by Schwab since it started counting them in 2004. The size of the average deal in 2011 was $798 million, the lowest average since 2005 and down from $895 million in 2010.
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Summary: Schwab is launching a client segmentation program to aid advisors in analyzing their clients and grouping them to determine which services to offer each client group with the ability to measure profitability.
