From On Wall Street
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Summary: Wealth management firms should develop broad talent and compensation strategies relevant to their goals. The next generation needs to know that it has a future, one with a clear path toward leadership and ownership.
From Think Advisor
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Summary: Many industry benchmarking studies are reporting that profitability has been falling in most independent advisory firms over the past two years. While there are a number of possible reasons for this, in my work with independent firms, I’ve found there are really only a few reasons. One is technology. Or perhaps more accurately, it's the failure of many advisory firm owners to efficiently integrate the flood of new technology into their businesses.
From Financial Planning
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Summary: Compensation makes up the single largest cost for RIAs, according Schwab’s most-recent RIA Benchmarking Study, yet many firms do not have a well-defined incentive package in place to reward and retain talent.
From Harvard Buisness Review
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Summary: All CEOs will inevitably leave office, yet research has long shown that most organizations are ill-prepared to replace them. In this article, we review the most salient studies of succession planning and offer context from experts on the process of picking new leaders for organizations.
From Investopedia
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Summary: Technology has had a tremendous impact on a number of different industries, and financial services is no exception. According to a recent study by RIA in a Box, advisors that use at least two technology solutions grew assets faster in 2015 than those that used none or just one.
