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.”
Merrill's latest hires span Colorado to Louisiana, even as industry-wide recruiting data suggests the firm is losing almost as many advisors as it gains.
The $36 million buy allegedly hid inflated books and a $50 million diversion.
“An award citing emotional distress is very unusual,” an industry executive said.
New EBRI research found workers who participated in employer financial education reported higher confidence, literacy and financial satisfaction.
Beyond operational excellence, the winning advisors of the future are the ones who can reach across multiple disciplines without discarding specialist skills.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
