Results for "succession planning"

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Incite: Don't put off succession planning

September 26, 2010

In conducting the research for our recent white paper, my partners and I were surprised to discover just how few owners of wealth management firms have done any meaningful succession planning for their businesses. In our view, the behavior is...

What makes your firm so special?

August 22, 2010

Pop quiz: Who are you? What do you do? And why is it important? In other words, why does your firm matter? The first two questions are relatively easy. You should be able to give confident, concise answers in simple terms and break down any...

Financial advisers sculpt rare opportunities from clients' collectibles

August 8, 2010

Your wealthy 85-year-old client has spent his life assembling a multimillion-dollar collection of rare objets d'art. He's also got a wine cellar full of Chateau Mouton Rothschild and a set of rare pool cues. He wants your help deciding what...

Merrill Lynch adviser, seduced by Burgundy, concocts Grand Cru

July 20, 2010

Ray Walker was happily employed as a financial adviser at Merrill Lynch & Co. in San Francisco until a gulp of wine coerced him into leaving for France to buy $140,000 worth of grapes with a dream to rival powerhouse Burgundy domaines such as...

Succession planning: Why your solution could be in the next cubicle

July 18, 2010

The soft market for advisory businesses is revealing an old verity: A founder's best successor is often a junior adviser who has been elevated to partner. “For the past couple of years, advisers were on the sidelines in terms of partnerships...

Finding your advisory firm's next you

July 18, 2010

Youth is sweet. For the advisory business, it's also a challenge. While many advisory firms are considering new ways to recruit, retain and reward the younger members of their staffs, managers must go further. They should make an extra effort...

Tips when selling to a junior partner

June 6, 2010

Many financial advisers assume that selling their practices to trusted junior advisers inevitably results in a smooth and easy transaction. Think again. Like any complex transaction, selling your life's work — even to someone you know well...

Opinion Online: Give up on succession planning

March 10, 2010

Yes, the headline is a bit over the top to get your attention. But you'd have to admit that for all the talk about succession planning in the financial advice business, there are few actual plans in place and few reliable models for training...

Cambridge to take stakes in 23 advisory firm 'partners'

January 10, 2010

Cambridge Investment Research Inc. will team up with 23 advisory firms in a new venture called Continuity Partners Group that will focus on succession planning and acquisition financing. Cambridge, a broker-dealer with 1,600 financial advisers...

Most advisers concerned about succession plans, survey reveals

October 5, 2009

Although financial advisers think that succession planning is important, many also believe that they aren't getting enough help preparing for that transition, according to a new survey conducted by Mathew Greenwald & Associates Inc. for John...

When internal transitions go wrong

September 27, 2009

For good reason, most financial advisers prefer internal to external transitions when planning their business' succession. Internal transitions allow for greater client and staff continuity, give the departing owner an opportunity to play a...

Fidelity watchers ponder succession at the family firm

August 23, 2009

Although Fidelity executives last week quelled rumors about the potential departure of president Rodger Lawson, observers noted that the larger question about the firm is who will take over when chairman and chief executive Edward C. “Ned”...

Planning for family, employee succession

June 7, 2009

Although succession planning involves many decisions and alternatives, there is one outcome that is always an either/or option: Ownership of the practice will pass either to a family member or to an outsider. Let's discuss both possibilities,...

Keeping it all in the family can be tricky business

May 3, 2009

Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firms' websites would lead a client or prospect to believe. Although thousands of registered representatives and financial advisers...

Family feud drives home need for succession plans

April 12, 2009

When Chris Wanken's dad, a branch manager affiliated with Raymond James Financial Services Inc., fired him last March, it ignited a smoldering family dispute that experts say might have been avoided with better planning. The Wankens' story is...

Fiduciary strikes ownership transition deal

January 9, 2008

Brouwer & Janachowski Inc. has become the fourth financial advisory firm in less than a year to strike a deal with Fiduciary Network LLC to set in motion a gradual ownership transition process. The Tiburon, Calif.-based financial advisory firm,...

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