Results for "succession planning"

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Why advisory firm founders and successors can't get on the same page

May 25, 2018

"A man learns something carrying a cat by the tail that he can learn in no other way." With this quote Mark Twain insightfully illustrates a powerful point: Experience is the best teacher, though it's not always kind or gentle to the student....

Adviser's Consultant: Building a flexible succession plan

May 11, 2018

Jack Hillis isn't quite ready to stop working with clients or give up his lifestyle advisory practice, but at 74 years old, he knew he needed a succession plan in place. His solution was to complete all the paperwork for a sale that will take...

How to attract high-net-worth clients

May 3, 2018

In a financial advisor's perfect world, their book of business would contain many high-net-worth (HNW) clients. Unfortunately, this is often not the case. While it sounds ideal to have a book full of HNW clients, attracting and retaining them...

Advisers still have a really big succession problem

April 25, 2018

Financial advisers continue to find succession planning difficult, with 73% not having a written plan in place, according to a new study by the Financial Planning Association and Janus Henderson Investors. The results, little changed from a...

Future for RIAs bright and challenging

March 19, 2018

From the outside, the independent financial advisory space appears to be flush with clients, assets and profitability, thanks in large part to a record run by the stock market. A closer look, however, shows some business-level vulnerabilities,...

Boomers: Envision your business transition plan

January 3, 2018

The Department of Labor rule, fee compression, and the overall migration to advisory business are issues that have been on advisers' minds for some time. But for baby boomers, who are not only the largest segment of advisers but also the ones...

Three keys to succession planning

December 15, 2017

The advisory profession is a noble one, wherein participants are entrusted with the important responsibility of helping clients to accumulate wealth, plan for the future and retire comfortably. However, the industry is at an inflection point....

Retirement plan advisers need to start planning for their own succession

November 22, 2017

It may seem odd that financial professionals who help clients plan for retirement rarely do a good job planning for retirement themselves. Beyond the cliché that a shoemaker's children often go barefoot, it highlights the fact that most successful...

Philip Palaveev on how firms should be recruiting young talent

November 7, 2017

There's a lot more to succession planning than just hiring younger advisers, but some registered investment advisers aren't even doing that part right. Philip Palaveev, founder and chief executive of The Ensemble Practice, describes why it's...

Advisor Group rolls out succession planning offer

October 20, 2017

Advisor Group is introducing a platform for advisers to buy and sell practices that uses a new online model for creating a business valuation. The program supports succession planning mergers and acquisitions across the Advisor Group network...

Voya's Tom Halloran: Why succession planning is such a struggle for financial advisers

August 31, 2017

Voya Financial Advisors President Tom Halloran discusses how advisers can make sure they have found the right fit when it comes to finding successors to run their businesses.

The Next Frontier: Conversation, Connection and Confidence

August 15, 2017

In contemporary American culture, people are often spending a lot of their time doing, not being. Many tend to move quickly and focus on action at the expense of self-reflection and deliberation. Constant motion coupled with endless digital...

Why financial advisers need to actively manage their continuity plans

July 5, 2017

Consider this scenario: An adviser, let's call her "Nancy," has worked hard during her career to build a solid business. After decades, her practice has become everything she dreamed it would be: she has 100 loyal clients who respect and trust...

5 ways financial advisers are handling succession plans

June 29, 2017

As part of the aging pattern of the financial-advice profession, an estimated 37% of financial advisers plan to retire within the next 10 years. Those 110,000 advisers headed toward transition are responsible for more than $5.8 trillion in investor...

RIAs must confront the emotional side of letting go of their business

June 28, 2017

When it comes to succession planning, the financial advice industry is often painted with a broad brush as being woefully ill-prepared. A closer look, however, shows that it is mostly those smaller, independent operators that stand out as being...

AssetMark offers advisers free tool to value their business

June 27, 2017

AssetMark Inc., a Concord, Calif.-based provider of investment and consulting services for advisers, has launched a free, online tool designed to help advisers determine the estimated value of their business. The tool also identifies areas of...

Adviser's Consultant: Hammering out succession plans that work for everyone

June 26, 2017

Charlie Fitzgerald spent the last five years or so figuring out how to equitably pass on his 19-year-old financial advice firm, Moisand, Fitzgerald, Tamayo, to the next generation. The Orlando-based firm structured agreements three years ago...

How to Jump-Start the Succession Planning Process

June 1, 2017

According to a May 2016 article on Forbes.com, only 30 percent of financial advisors have a succession plan. Are you one of the 70 percent of advisors who has neglected this important task? As a small business owner, you're putting your staff,...

Advisor Group's Jamie Price: The real reason why most advisers don't have a succession plan in place

May 23, 2017

Eighty percent of advisers do not have a succession plan in place, though about half of them already know they will need to transition their businesses within the next 10 years, according to Jamie Price, president and CEO of Advisor Group.

Houston-area Lifestyle Financial Advisors merges with nearby adviser

February 8, 2017

Lifestyle Financial Advisors has merged the Laura A. Nagle independent advisory practice, bringing total assets under management to $510 million, according to a press release issued by First Allied Securities, the firm's broker-dealer. Lifestyle...

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