How much should you pay your employees? Charge your clients? Spend on marketing?
If you manage an advisory practice, these questions are never far away, because the answers change with every shift in the industry. That’s why, for the first year ever, InvestmentNews is publishing its full Study of Compensation & Staffing alongside an update to our Study of Pricing & Profitability.
For more than a decade, this series of benchmarking reports has helped firms make evidence-based decisions about the future of their practice. The studies, and the online dashboard that they power, break data out by firm evolutionary stage so practice managers can see what peers are doing and continue to compete as they grow from solo practice to multi-professional team and beyond.
[WATCH: How the 2021 Adviser Benchmarking study can help you]
This year’s data, covering 2020 financial performance, will explore how firms managed through a year of ups and downs that shattered industry precedents.
These insights into the industry, however, are only possible through the participation of wealth management firms of all sizes. If you have been in business for at least a year and have generated at least $100,000 in annual revenue, we want to hear from you.
Firms that participate in the survey will receive both of our studies at no cost, as well as a year of free access to IN’s Adviser Research Dashboard, an interactive tool that puts thousands of data points at the your fingertips.
Act fast: the survey closes Friday May 28. To create a login and begin your firm’s questionnaire click here.
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.
