From Financial Planning
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Summary: Industry veteran Tim Kochis, the former CEO of Aspiriant, is getting back into the wealth management business full-time, joining DeVoe & Co. to launch a new succession planning initiative.
From Harvard Buisness Review
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Summary: Think back to your first day on the job. If you’re like most people, you felt excited and were eager to get down to work. But, based on the results of field research I recently conducted, I am willing to guess that just a few months later that excitement dissipated and you began to feel dissatisfaction, even boredom, with some aspects of your job. You’ve probably witnessed a similar trend among the employees you’ve hired and managed as well.
From IRIS
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Summary: Markets are going well, and commission and fee rates are still at the high end of the scale, and there are still plenty of consumers using advisers really, and a lot the anticipated regulatory bite hasn’t really hit home for most practitioners….
From Cruz Consulting Group
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Summary: A performance management process is best when it links execution to compensation. That, in turn, encourages employee engagement.
From WealthManagement.com
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Summary: Succession planning involves more than valuations and buy-sell agreements. Given all the blood, sweat, and tears you’ve put into your business, you don’t want to risk passing it to the wrong person—someone who doesn’t care for your clients the same way you do or who doesn’t value the staff who have supported you for years. But is it best to choose an internal or an external successor? There are pros and cons to each option.
