Results for "succession planning"

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The big succession planning questions RIAs need to answer immediately

March 13, 2015

As the saying goes, just when I knew all the answers, they changed all the questions. This is the situation facing the wealth management industry today. Fifteen years ago, all major firms were focused on an aging client population and developing...

External IT's Attias: Align your technology with your succession plan

March 12, 2015

An effective succession requires that financial advisers take a step back from their practices. Using the right technology well before a transition can give them a head start, according to Sam Attias, vice president of External IT.

Time for RIAs to set transition plans as SEC steps up focus

March 6, 2015

Mary Jo White, chairwoman of the Securities and Exchange Commission, recently discussed potential regulatory reforms that would lay the foundation for regulating the risks arising from portfolio composition and operations of investment advisers...

Getting decked out in camo to help tell a succession planning story

February 23, 2015

Its 8:30 on a Monday morning. I'm decked in head-to-toe camouflage, hiding behind a tree on a rocky bluff in Montana. And I'm fairly certain I'm about to get shot. No, this isn't the beginning of a Brian Williams joke, it's just the middle of...

Fidelity's acquisition of eMoney Advisor could be a watershed moment for the advice industry

February 9, 2015

I have written at length about the changing landscape created by robo-advisers and mega direct-to-consumer brands like the fund companies, banks and custodians. And while I don't have a crystal ball, I think the acquisition of eMoney by Fidelity...

Don't let your business go down in flames like Kodak

February 5, 2015

“You either disrupt your own company or someone else will.” With that quote, Peter Diamandis, an international pioneer in the fields of innovation, incentive competitions, and commercial space, set the crowd abuzz at the TD Ameritrade National...

5 surprising challenges of teaming up

January 26, 2015

When advisers join forces they’re able to capitalize on economies of scale, but forming teams and operating them successfully can be a challenge, according to the first quarter 2015 adviser edition of the Cerulli Edge. Here are a few things...

Taking over an adviser's book can be a risky venture

January 22, 2015

Stepping into the shoes of a retiring financial adviser may sound easy compared to the business development efforts it takes to recruit an entire practice of clients. But even after making it through the difficult task of completing such a deal,...

Recent Supreme Court case offers lessons for managing inherited IRAs

January 9, 2015

Assets held in IRA accounts totaled more than $7 trillion at the end of the second quarter of 2014, according to the latest available data. Based on our rapidly aging population and other factors, it's reasonable to assume significant and increasing...

Optimism abounds for financial advice industry in 2015

January 5, 2015

This year looks to be rosy for advisory firms — if you believe both the pundits and advisers themselves. "I am bullishly optimistic on the wealth management business," said adviser JJ Burns, founder of JJ Burns & Co. in Melville, New York....

Put your plan in place today

December 21, 2014

"Why do today what you can put off until tomorrow?” — an inversion of Ben Franklin's virtuous commandment — is apt for continuity and succession planning. But it won't hold water as an excuse when regulators come knocking. For years, the...

RIAs to control 28% of assets by 2018: Cerulli

December 15, 2014

Registered investment advisers are not likely to see a slowdown in growth as they continue to climb the ladder in assets under management. Thanks in large part to growth of dually registered advisers, who are also affiliated with a broker-dealer,...

Young advisers go from learning to doing

December 14, 2014

Halfway through their first year in the advice business, the six young professionals InvestmentNews is tracking for its Year 1 project — to better understand adviser experiences as they enter the industry — have gained confidence and skills....

The contingency plan: Your succession plan's safety net

December 12, 2014

If you can count yourself among the minority of advisers — about 40% — who are within five years of retirement age and have created a succession plan, you're all good, right? Maybe. In working with advisers over the years, I've found that...

SEC works on rule requiring practice transition plans

December 11, 2014

Financial advisers could be forced by federal and state regulators to create transition plans in the event they die or become incapacitated. Last Thursday, Securities and Exchange Commission Chairman Mary Jo White said the agency is focusing...

The most valuable thing an adviser can do for clients in 2015

December 10, 2014

As we head into 2015, advisers will have myriad opportunities to read industry pundits' prognostications on what to expect in the coming year. Unfortunately, my own crystal ball is in the shop, so instead I'll offer some context that I hope...

Tony Robbins gets advisers talking at the 2014 MarketCounsel Summit

December 9, 2014

Tony Robbins brought his message championing independent advisers and a fiduciary standard on the road, taking the stage at the 2014 MarketCounsel Summit in Las Vegas, Nevada. His comments got advisers talking on Twitter, and we've pulled together...

Convergent chairman resigns

December 5, 2014

In addition naming a new chief executive officer, Convergent Wealth Advisors has appointed a new chairman. Steven Lockshin, the firm's founder, is stepping down from his role as chairman and will be replaced by Richard Gershen, the executive...

Convergent, rocked by suicide of CEO, announces replacement

December 3, 2014

A little over two months after the firm's chief executive, David Zier, died of an apparent suicide, Convergent Wealth Advisors has appointed chief operating officer Douglas Wolford as its new CEO. Mr. Wolford, who had been operating as interim...

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