Desperate to reel in star brokers, the wirehouses are fishing more than ever in the unlikely and foreign waters of independent-contractor broker-dealers to hook their top representatives
Advice on how to adapt your communications style to your client's needs
Some are calling it a revolution. Women now control $18.4 trillion in consumer spending, hold approximately 30% of global wealth and are the sole heads of 32% of U.S households.
In my consulting work, I am continually asked by firm principals about hiring strategies. Questions such as: “Should I make my next hire before I reach capacity, or after? Should I hire an experienced adviser with a book of clients, or invest in a junior person that I can train in our way of doing things?”
To win trust, presume nothing - and listen closely.
Representatives from three advisory firms sat down during a recent webcast to discuss how their compensation plans have been developed, and how they are evolving.
Every firm should have a well-documented compensation plan, which covers a lot more than just how much you pay people.
Forget the C-suite power-play look. Advisers are finding that more casual office environments can make client meetings more comfortable and productive.
Targeting children of existing clients crucial for firms eager to prosper long-term; there is no Plan B
From pay to valuation, plenty of tricky questions; 'better to start out low'
When discussing personnel needs with our clients, an axiom we often share to help them keep in sharp focus as they evaluate talent is: Hire character, train for skill and pay for talent.
Many financially savvy advisers know that when clients seek advice in buying or evaluating artwork, the advisers themselves will have to draw on a network of experts for guidance.
