The more unique or specialized an adviser's practice is, the less marketable it is to potential buyers.
The impact that market corrections can have on advisory firms' profits makes having the right strategy and doing an exceptional job of implementing it even more important.
One way we decide which new technologies to implement (or at least consider) is by asking our clients to provide detailed feedback on communications every other year.
If you want to grow and improve, you've almost certainly got to change. But embracing change is one of the hardest things you can do.
Burnt out by the grind of running a small business, many firm principals are merging with other firms and creating national brands.
The industry is consolidating amid an explosion in mergers and acquisitions.
If you're trying to grow, you need to be prepared to dramatically upgrade your service, including providing a first-rate digital experience and a greater range of services.
Once the market hits another prolonged downturn, those advisers with no organic growth will see a precipitous decline in the values of their firms.
The No. 1 reason given for the increase in advisory firm M&A is the desire to create a succession plan. Advisers nearing retirement should consider their alternatives.
With valuations of financial planning and wealth management shops at record highs and private equity focusing on the space, it would seem prudent for firms to at least research their options.
