Prospera Financial Services, a Dallas, Texas-based independent firm, has launched a program to help their firm’s affiliated advisers acquire another practice or create succession plans through a sale.
The Advisor Practice Exchange Program program, called Apex, includes a dedicated consultant to help advisers navigate the buying or selling process, tools including acquisition and succession guides, white papers, recorded webinars, a guide to outside resources and market and economic updates.
“Studies have shown that at least a third of advisers are planning to retire in the next 10 years, but fewer than 10% have taken the time to put an executable succession plan in place,” Prospera said in a release, explaining that the firm created the program to help older advisers monetize “what they've spent a lifetime building while giving growth-oriented advisers assistance in finding the right partner.”
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
