Results for "succession planning"

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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,...

Advice business must improve succession planning

March 7, 2018

More than a quarter — 28% — of advisers who are within 10 years of retirement are unsure about succession, posing a problem for all channels of the advice business, according to a new study by Cerulli Associates. Confirming widely known...

Succession planning, Aussie style

November 13, 2011

Regardless of differences in regulation, compensation or specific products, there is one issue that unites financial advisers around the world: succession planning. Whether here or abroad, the adviser community continues to gray, and succession...

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...

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....

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,...

3 Obstacles to Smooth Successions

May 1, 2017

Mortality The first step of succession planning is recognizing you have a problem: you are not going to live forever. Advisors often think they will work until they die, ignoring the high probability that an illness or disability could cause...

Don't bet on an aggregator deal

December 4, 2011

Owners of independent advisory firms have been hearing lots of talk of aggregators — firms that include Fiduciary Network LLC, Focus Financial Partners and United Capital Financial Advisers LLC — that are scooping up top registered investment...

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...

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...

Smarter tech can mean a better deal

December 13, 2015

Selling a successful wealth management business is one of the hardest things an owner will ever do. Intense negotiations and emotions compound the pressure of determining an optimal valuation for the firm while also keeping the practice running...

The succession discussion has to change

August 4, 2016

Succession planning is a dirty word. How can I say this—being that I consult with advisers about succession all the time? Ten years ago, approximately 20% of advisers had a succession plan. Today, despite years of events, articles and software...

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.

Developing a workable succession plan: What do advisers really want?

May 11, 2014

The enormous focus in recent years on empowering succession planning on the part of broker-dealers and custodians is truly laudable and reflects the inescapable changes that the aging of the overall financial adviser population will bring to...

Strategic succession planning

June 2, 2013

Why should management succession be high on the list of strategic priorities? Because owners of financial services firms can maximize the value of their businesses by making management succession part of their strategic plans. There are a number...

Grooming heirs is a continuous process

December 1, 2013

Financial advisers who own a firm or have clients who are business owners appreciate the need for sound succession planning. Having a plan in place ensures stability well into the future, which means that clients are more likely to be around...

10 issues every plan should address

September 9, 2012

This is excerpted from a column that originally appeared in The Adviser's Consultant, a monthly practice management newsletter published by InvestmentNews. No single succession plan will be right for every firm. Succession plans will be as different...

Peeking inside adviser M&A

September 8, 2013

The term “M&A” is thrown around rather loosely. We read about mergers-and-acquisitions activity in financial publications daily, but usually what is being reported relates to one corporate giant acquiring another — for example, Verizon...

The delicate art of hitting the road

March 10, 2013

In the 2002 movie “About Schmidt,” Warren Schmidt, played by Jack Nicholson, retires from an Omaha, Neb.-based insurance company. After the retirement party, his wife suddenly passes away. Schmidt struggles to adjust to his new life. Feeling...

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