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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Pursuing sustainable growth: Why RIAs wind up with a leaky bucket
Added on January 2024 in Plan for the Future
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Summary: The quest for growth in the financial advice industry is unrelenting, with independent registered investment advisors leading the charge. For years, this growth has been propelled in large part by the momentum of market gains and a thriving environment for mergers and acquisitions. However, the distinction between organic growth and market growth has never been more apparent, especially during periods of market volatility like we’ve experienced since the onset of the pandemic.
Succession Planning for Financial Advisors: The Top 5 Most Important Success Planning Considerations
Added on July 2023 in Plan for the Future
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Summary: With M&A activity continuing to blossom and the average age of financial advisors being well over the age of 50, succession planning for financial advisors is becoming an increasingly important subject and area of focus.
Modernize your service model, both for your next client and your succession plan
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.
Employees are a key piece of the succession puzzle
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
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.
