Results for "succession planning"

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The Right Approach for Finding the Right Senior Partner

April 1, 2017

For millennials looking to launch a career as a financial advisor, it truly is the best of times and the worst of times. Demand for young professionals who can attract young clients is at an all-time high and expected to grow. On the flipside,...

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...

3 non-traditional methods for acquiring a financial advisory practice or book of business

February 7, 2017

In the highly-competitive acquisition landscape for independent financial advice practices, successful buyers need an edge. Embracing non-traditional acquisition methods provides an essential set of tools that may make the difference between...

Banks, credit unions could start buying advisory practices

February 1, 2017

In September, when Salem Five Bank acquired Stumm Financial Services, it set in motion a financial advice model that could become a blueprint for other banks and credit unions, and also represents new distribution for platforms like LPL Financial....

Smarter sellers, buyers bog down RIA M&A activity

January 30, 2017

The number of merger and acquisitions involving registered investment advisers fell by 25% last year. The latest M&A report from Fidelity Custody & Clearing describes the 104 deals in 2016 as an anomaly, and projects transactions for the current...

Aspiriant's focus on scale and aggregation makes it a top-tier RIA consolidator

January 24, 2017

With $10.4 billion under advisement, Aspiriant is muscling its way toward the top tier of serious consolidators of registered investment advisers. Rob Francais, the enthusiastic CEO of the Los Angeles-based RIA, likes to reference his “100-year...

Why This May Be the Right Time to Sell Your Practice

January 11, 2017

There's no more daunting task than creating a succession plan for your practice. You're busy. You'd rather be serving clients. Adding to the challenge, it feels more complicated the more successful and sophisticated your business becomes. It's...

Veteran PNC Wealth Management rep goes independent

January 5, 2017

Matthew Pietzak has left PNC Wealth Management to launch his own firm, Vantage Private Wealth, based in Naples, Fla. Mr. Pietzak, who oversaw more than $300 million at PNC, will be offering financial planning and investment management services...

Steward Partners nears $5B as it continues to recruit wirehouse reps

January 3, 2017

The first hurdle for any wirehouse rep hoping to join Steward Partners Global Advisory is the “no-jerk policy,” which company founders say is more important than experience or assets under management. “We want great people, first, who...

Finding the Right Ecosystem

January 2, 2017

The rise of companies utilizing financial technology (fintech) over the past five years can no longer be ignored by traditional wealth managers and established financial services firms. Capitalizing on digitalization, big data, social media,...

Mercer Advisors acquires California RIA Fabian Wealth Strategies

December 14, 2016

Santa Barbara, Calif.-based Mercer Advisors announced Wednesday morning that it has acquired Fabian Wealth Strategies, a Costa Mesa, Calif.-based advisory firm with $95 million in client assets. Mercer Advisors is the parent company of Mercer...

Aspiriant picks up $850M Silicon Valley RIA

December 12, 2016

The growth continues for Aspiriant, as the Los Angeles-based advisory firm is about to lock up its third RIA transaction in a year, with at least two more deals slated in coming months. In the latest deal, which is expected to close Jan. 31,...

Best Buy founder among outsiders betting on financial advice firms

November 22, 2016

The demand for advisory firms to grow larger and larger has some reaching out to strange bedfellows for financial support. Best Buy founder Richard M. Schulze is among the investors who recently took a 25% stake in Meristem Family Wealth, a...

Ask the Ethicist: How to make a U-turn after retirement

November 21, 2016

This month's question concerns a woman who worked for many years in wealth management before retiring to an hourly consulting practice. Now she's thinking of returning to the workforce at a registered investment adviser firm. Q: I worked for...

Top reasons for independent advisers to consider a merger instead of an acquisition

October 20, 2016

Among the independent financial adviser community, merger and acquisition discussions tend to revolve purely around acquisitions. But mergers also represent a very useful strategic path. By merger, I am referring to the joining together of two...

More than 1/4 of financial advisers plan to exit industry or merge firms: survey

September 29, 2016

A quarter of financial advisers are planning a dramatic change in the way they operate their business within the next three years, a new survey found. About 27% of advisers said they intend to sell their business, merge with another firm, retire...

Industry, adviser groups raise concerns about SEC's business continuity proposal

September 8, 2016

Industry and adviser groups agree with the intent of a Securities and Exchange Commission proposal to require more rigor from financial advisers in planning for unexpected disruptions to their business. But in comment letters to the agency,...

Advisers have a fiduciary duty to put robust business continuity plans in place

September 2, 2016

Last year, the North American Securities Administrators Association — the organization representing state securities regulators — adopted a model rule to require state-registered investment advisers to establish business continuity and succession...

Adviser's Consultant: Building diversity at firms makes business sense

August 24, 2016

Marguerita Cheng said for the bulk of her clients, she is the first adviser they've ever seen. About half of the families that Blue Ocean Global Wealth serves are ethnically diverse, and she's most confident that these clients won't be walking...

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...

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