Results for "succession planning"

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3 obstacles to succession planning — and how to overcome them

May 30, 2018

Though financial advisers may excel at helping clients plan for the long term, too few are following their own advice. Only 37% of advisers have an adequate succession plan, according to a new FA Insight report on succession planning, a statistic...

Ladenburg platform to help IBDs with succession planning, acquisitions

August 16, 2018

Ladenburg Thalmann Financial Services has a new suite of services and digital tools to help advisers across its subsidiary broker-dealers with succession, continuity and acquisition planning. The platform is part of an ongoing effort by the...

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...

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...

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...

Why saying goodbye to your clients and business is hard

June 8, 2018

Boomers, do you look your age? If so, clients have likely been wondering how long you will be around to help them with their financial future — and they have probably been wondering this for longer than you think! In fact, clients often feel...

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...

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...

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...

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...

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...

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...

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....

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...

Business valuation: One size doesn't fit all

December 2, 2012

As the first baby boomers turn 66, a steady stream of financial advisers also are entering or approaching retirement age. Most current advisers will be leaving the profession within 20 years. The question they will all have to answer is how...

Succession planning's not about you

November 4, 2012

For several years, research has pinpointed succession as a potential trouble spot for an aging advisory business. But retirement is not the only problematic succession issue, and maybe not even the most important one. Our inaugural study on...

How to find a junior financial adviser

September 18, 2011

As the first wave of baby boomers turns 65, everyone in the industry is talking and thinking about succession. Unfortunately, far fewer are doing anything about it. To help ensure a smooth transition, it is best to start succession planning...

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...

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...

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,...

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