Results for "succession planning"

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What does a Goldman-owned United Capital mean for advisers?

May 14, 2019

Joe Duran's long-rumored search for additional investment in United Capital Financial Partners seems to be concluding with a sale to Goldman Sachs Group. There are still a lot of questions surrounding the deal's specifics and what it means for...

What does a Goldman-owned United Capital mean for advisers?

May 14, 2019

Joe Duran's long-rumored search for additional investment in United Capital Financial Partners seems to be concluding with a sale to Goldman Sachs Group. There are still a lot of questions surrounding the deal's specifics and what it means for...

'Retire in place' doesn't cut it as a succession plan

April 16, 2019

It has become apparent to me that the succession plan of many older advisers is simply to retire in place. To achieve this, advisers basically stop working full-time, place all (or most) client assets in fee-based accounts, strip out as many...

RIA succession plan takes the long view

April 15, 2019

In a financial planning industry constantly chastised for not taking succession planning seriously enough, Michael Chasnoff might be considered an anomaly: He's 12 years into a 22-year succession plan. Mr. Chasnoff, founder and chief executive...

Succession plan success story

March 19, 2019

The story of Benjamin Tobias' succession plan is proof that having a good plan in place can help a firm endure and evolve through even the worst of circumstances. Mr. Tobias, 67, had been grooming two advisers to take over his Plantation, Fla.-based...

Investment bank launches digital loan platform for advisers

March 14, 2019

An investment banking firm that specializes in the independent adviser market has launched a digital marketplace for banks that want to lend money to advisory firms. (More: Thinking about selling your firm? 5 ways to prepare) Wayzata, Minn.-based...

Wells Fargo Advisors sweetens the pot for both older and younger advisers

March 11, 2019

After bleeding advisers for more than two years, Wells Fargo Advisors is changing its succession plan by offering a bonus to advisers who stay on until retirement and giving financial help to young advisers acquiring the business of those advisers...

Making room for the next generation of advisers

March 4, 2019

Recently, I read an article in the November issue of the Harvard Business Review (What Happens to Younger Workers When Older Workers Don't Retire) that got me thinking. It focused on the world of symphony orchestras, where many principal oboists...

Leading to last: Growing an advisory firm so it will continue on

February 28, 2019

Over the past decade, succession planning has become an increasingly potent issue for many RIA firms — including ours. According to Fidelity's benchmarking study, 60% of RIAs either have no succession plan or have one that isn't ready for...

Veteran adviser locks down a succession plan that lets him stay involved

February 15, 2019

It took a while before it became a top priority, but Leon LaBrecque can finally rest easy knowing that at 63, his business succession plan is in place. After about eight years of weighing his options, and 18 months of grinding out the details,...

RIA firm sales could hinge on succession planning, study finds

January 30, 2019

RIA principals selling their business may get less than top dollar if they don't develop a succession plan. That's the key finding of a survey of 162 registered investment advisory firms of all sizes conducted by Franklin Templeton Investments....

Dan Candura's final column contains his best advice for acting ethically

November 30, 2018

A little over three years ago, InvestmentNews approached me about writing this column. The invitation came after a major piece on practice succession in which I was featured as an example of what not to do as you contemplate the waning of your...

The new normal of succession planning

November 12, 2018

Advisers across the industry have been encouraged to get their continuity and succession plans in place. By and large, they've heeded the advice. Still, advisers approaching retirement see the same statistics they show their clients about more...

Paul Allen's $26 billion estate could take years to unravel

October 18, 2018

Paul Allen's family office will live long and prosper. The billionaire's vast holdings at Vulcan Inc. -- with real estate, art, sports teams and venture capital stakes -- would take years to unravel, if that's even what he wanted. Mr. Allen,...

Ladenburg platform to help IBDs with succession planning, acquisitions

August 16, 2018

Ladenburg Thalmann Financial Services has a new suite of services and digital tools to help advisers across its subsidiary broker-dealers with succession, continuity and acquisition planning. The platform is part of an ongoing effort by the...

Why saying goodbye to your clients and business is hard

June 8, 2018

Boomers, do you look your age? If so, clients have likely been wondering how long you will be around to help them with their financial future — and they have probably been wondering this for longer than you think! In fact, clients often feel...

3 obstacles to succession planning — and how to overcome them

May 30, 2018

Though financial advisers may excel at helping clients plan for the long term, too few are following their own advice. Only 37% of advisers have an adequate succession plan, according to a new FA Insight report on succession planning, a statistic...

Why advisory firm founders and successors can't get on the same page

May 25, 2018

"A man learns something carrying a cat by the tail that he can learn in no other way." With this quote Mark Twain insightfully illustrates a powerful point: Experience is the best teacher, though it's not always kind or gentle to the student....

Adviser's Consultant: Building a flexible succession plan

May 11, 2018

Jack Hillis isn't quite ready to stop working with clients or give up his lifestyle advisory practice, but at 74 years old, he knew he needed a succession plan in place. His solution was to complete all the paperwork for a sale that will take...

How to attract high-net-worth clients

May 3, 2018

In a financial advisor's perfect world, their book of business would contain many high-net-worth (HNW) clients. Unfortunately, this is often not the case. While it sounds ideal to have a book full of HNW clients, attracting and retaining them...

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