From WealthManagement.com
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Summary:It’s an annual ritual for our firm: We gather the team together and take a long, hard look at what transpired over the previous 12 months. Working together, we examine deals both large and small, dissect the headlines, hearsay and study the players—all resulting in an annual report that we make available to professionals in the wealth management industry.
From InvestmentNews\
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Summary: Teaming up with other advisers or practitioners — like attorneys, estate planners and accountants — offers compelling benefits to financial advisers, in the form of broader specialization, attraction and retention of more clients.
From Financial Advisor IQ
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Summary: The vast majority of financial advisors are failing to plan for their firm’s future – only 27% have a formal documented plan, a recent Financial Planning Association study reveals. Despite most advisors understanding the risks of not having a succession plan, the rate of planning remains largely unchanged from the reported 28% in 2015, the study finds.
From ThinkAdvisor
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Summary: My consulting business has the exact opposite problem of most independent advisory businesses. In my business, I tend to spend more time on the business — thinking about new ways to help advisory firm owners and how to get that information out to more of them — than I do working in my business.
From ThinkAdvisor
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Summary: Like the cobbler whose children have no shoes, many financial planners have not planned for their own retirement. A new study released by the Financial Planning Association in partnership with Janus Henderson reveals that 73% of financial advisors don’t have a written succession plan, including 60% of those within five years of retirement.
