Plan for the Future
Contingency and succession planning are critical to your advisory firm's success. Review the wealth of information.
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Modernize your service model, both for your next client and your succession plan
From InvestmentNerws
Added on June 2023 in Plan for the Future
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Summary: If you’ve been in the wealth management space for more than a decade, you probably have a lot of clients who are in their late 60s and older. These clients came to you in a much different era than today. They expect a specific type of personalized service, such as face-to-face appointments and a particular beverage when they come into the office. And some likely still prefer paper statements that are traditionally mailed rather than digitally delivered.
How a Lack of Succession Planning Can Kill M&A Deals
From RIAIntel
Added on May 2023 in Plan for the Future
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Summary: Over the last four years, Hightower has completed more than 45 deals and built a team soley focused on acquisitions, including calling and researching RIAs. Oros said the firm evaluates succession plans as part of every transaction. A lack of succession planning has even killed a couple of the company’s potential deals.
Employees are a key piece of the succession puzzle
From InvestmentNews
Added on April 2023 in Plan for the Future
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Subject: Back in 2020, at the height of the pandemic, my long-time business partner and I sold our Houston-based registered investment advisor, with $450 million in assets under management, to a national integrator for a combination of cash, equity, and the fact that we were able to bring virtually all our employees along with us to the acquiring firm.
RIA Leaders Fear CPA Retirements Could Complicate Planning Efforts
From ThinkAdvisor
Added on January 2023 in Plan for the Future
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Summary: As Mike Leverty, the founder and CEO of Leverty Financial Group in Wisconsin, recently told ThinkAdvisor, the work of serving clients in 2023 is about so much more than picking stocks and bonds. A big reason why, Leverty says, is the fact that individuals’ financial lives have themselves become so much more complicated, especially when it comes to planning for retirement.
Investment Advisers Seek Talent Amid Staff Shortage
From Plan Advisor
Added on January 2023 in Plan for the Future
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Summary: Advisers are seeking to expand their employee base’s skill set and meet capacity needs. Of nearly 1,000 respondents surveyed by Schwab in the third quarter, recruiting among RIAs rose to the No. 1 strategic priority for the first time since the study was started in 2006. The demand is being driven by strong growth for financial advice and wealth management, according to Lisa Salvi, managing director of adviser services at Charles Schwab
