Added on March 2015 in M&A Issues
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Summary: Henley’s popular poem Invictus was a favorite of Nelson Mandela’s and my grandmother. These lines could be the mantra of most advisors whether buyers or sellers. Advisors have grit. This grit is both the source of our success and the essence our vulnerability. As a buyer, your goal is to grow inorganically. You know you have a lot of company. Our advisory world is full of buyers with few sellers to be seen.
Added on March 2015 in M&A Issues
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Summary: The wealth management industry is awash in robo hype. The mainstream introduction of online, automated investment services, known as robo-advisers, has the financial advisory business riveted. Headlines, shop-talk and strategic planning sessions are dominated by the human-versus-technology debate for current and future clients.
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Summary: As the saying goes, just when I knew all the answers, they changed all the questions. This is the situation facing the wealth management industry today. Fifteen years ago, all major firms were focused on an aging client population and developing programs to capture the tremendous wealth transfer that was about to take place. Next generation marketing programs were all the rage.
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Summary: There are 3 things a rider does when he jumps a fence: look up, heels down and release. Many advisors should be thinking about their next jump whether it’s an internal succession or a sale to an outside firm. The exit struggle exists because advisors can’t picture what’s beyond the jump that is succession.
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Summary: Financial advisors should target younger clients because they will grow faster and give advisors a fundamentally sounder book of business, according to PriceMetrix, a practice management and data services company.
