From Think Advisor
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Summary: The veteran advisor who has built a billion-dollar wealth management firm says there’s one troubling issue he and his owner-advisor peers share. While the next generation of advisors has many great skills, it doesn’t know how to sell. The firm run by this advisor is an SEC-registered, proudly fee-only RIA firm. “Fee-only” and “sales” are rarely uttered in the same sentence, but his point is well-made. All advisors are salespeople, even if the only “thing” they’re selling is their firm.
From Think Advisor
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Summary: Experience tells us that bullish stock markets will inevitably turn bearish: often, dramatically. Our Nov. 24 blog—“Buying High and Selling Low: Are you ready for the next downturn?”—suggested that the damage to independent advisory firms from failing to be prepared for the next down market almost always outweighs any growth gained during the tail end of a run up.
From Financial Planning
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Summary: The landscape for financial advisors is rapidly evolving, and it can be difficult to keep up. Now that a new year is at hand, it’s time to reevaluate your business and take a fresh approach to growing it. Here is my list of the 15 big business moves advisors should make in the new year.
From Financial Planning
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Summary: If you want insight into how wealthy investors think — and how to keep them as clients — it would be hard to find a more informed source than Charlotte Beyer.
From Investment Advisor
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Summary: A 32-year age gap exists between the founder and outgoing CEO of an RIA firm and his successor. The story of this firm's succession plan began when the firm (with $1.4 billion in AUM) received an acquisition offer by a larger firm in another city. The offer was rejected, but it served as a catalyst for an honest discussion of “where do we go from here?”
