Results for "succession planning"

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The importance of a continuity plan

March 13, 2011

Are you a fiduciary? Do you have a fully tested and documented continuity plan? If you answered, “yes,” to the former, you need to answer, “yes,” to the latter. Continuity planning isn't the same as succession planning. In fact, there...

Advisory firm values slip; big buying small

March 6, 2011

For the first time in up to a decade, the average sale price of an advisory business fell last year, according to two separate soon-to-be-released studies. The decline in value, although relatively small, reflects the lower revenue and profit...

United Capital moving up the food chain, buys $1.6B RIA

January 13, 2011

United Capital Financial Partners Inc. is acquiring Zirkin-Cutler Investments Inc., a $1.6 billion registered investment advisory firm owned by M&T Bank Corp. The firm plans to announce two additional acquisitions tomorrow and yet another one...

Practice management: Start succession planning early

December 14, 2010

Although about 60% of financial advisers are baby boomers heading toward retirement, only about one quarter of them have a succession plan in place, according to Cerulli Associates Inc. In an industry filled with compassionate, dedicated professionals...

Five mistakes when passing the baton

December 12, 2010

Working with advisers over the years, I've seen firsthand how creating and executing a solid succession plan can be fraught with pitfalls. While they can spend as much time on succession planning as larger companies, advisory firms must take...

Tips from top RIAs: Jon Yankee

December 2, 2010

The InvestmentNews Research Team: recently completed a successful series of workshops based on the results from the InvestmentNews/Moss Adams Financial Performance Study of Advisory Firms. Learn some key business management tips from top-performing...

Succession-planning malpractice

November 21, 2010

About two years ago, I wrote about an adviser who died without a succession plan, wreaking havoc on his clients, his business and his family. Rob, who provided my parents with solid financial planning for more than 20 years, died of cancer at...

Only one in three advisory firms has exit plan: Study

November 17, 2010

Advisory firms continue to face daunting transition issues as advisers age and contemplate retirement, according to speakers today at the 2010 InvestmentNews/Moss Adams Financial Performance Study of Advisory Firms Workshop in San Francisco....

AIG prepares succession plan

November 7, 2010

American International Group Inc. is at a point in its recovery where the insurer's next chief executive will be able to focus on running day-to-day operations rather than crisis management, observers said. The issue arose Oct. 25 when AIG disclosed...

Incite: Don't put off succession planning

September 26, 2010

In conducting the research for our recent white paper, my partners and I were surprised to discover just how few owners of wealth management firms have done any meaningful succession planning for their businesses. In our view, the behavior is...

What makes your firm so special?

August 22, 2010

Pop quiz: Who are you? What do you do? And why is it important? In other words, why does your firm matter? The first two questions are relatively easy. You should be able to give confident, concise answers in simple terms and break down any...

Financial advisers sculpt rare opportunities from clients' collectibles

August 8, 2010

Your wealthy 85-year-old client has spent his life assembling a multimillion-dollar collection of rare objets d'art. He's also got a wine cellar full of Chateau Mouton Rothschild and a set of rare pool cues. He wants your help deciding what...

Merrill Lynch adviser, seduced by Burgundy, concocts Grand Cru

July 20, 2010

Ray Walker was happily employed as a financial adviser at Merrill Lynch & Co. in San Francisco until a gulp of wine coerced him into leaving for France to buy $140,000 worth of grapes with a dream to rival powerhouse Burgundy domaines such as...

Succession planning: Why your solution could be in the next cubicle

July 18, 2010

The soft market for advisory businesses is revealing an old verity: A founder's best successor is often a junior adviser who has been elevated to partner. “For the past couple of years, advisers were on the sidelines in terms of partnerships...

Finding your advisory firm's next you

July 18, 2010

Youth is sweet. For the advisory business, it's also a challenge. While many advisory firms are considering new ways to recruit, retain and reward the younger members of their staffs, managers must go further. They should make an extra effort...

Tips when selling to a junior partner

June 6, 2010

Many financial advisers assume that selling their practices to trusted junior advisers inevitably results in a smooth and easy transaction. Think again. Like any complex transaction, selling your life's work — even to someone you know well...

A delicate situation: Acquiring practices of the deceased

March 14, 2010

Is it appropriate to try to acquire the clients of a fellow financial adviser who died without a successor? It is a tough call: You don't want to come off as an ambulance chaser. And even if you choose to pursue such an opportunity, success...

Opinion Online: Give up on succession planning

March 10, 2010

Yes, the headline is a bit over the top to get your attention. But you'd have to admit that for all the talk about succession planning in the financial advice business, there are few actual plans in place and few reliable models for training...

Cambridge to take stakes in 23 advisory firm 'partners'

January 10, 2010

Cambridge Investment Research Inc. will team up with 23 advisory firms in a new venture called Continuity Partners Group that will focus on succession planning and acquisition financing. Cambridge, a broker-dealer with 1,600 financial advisers...

Most advisers concerned about succession plans, survey reveals

October 5, 2009

Although financial advisers think that succession planning is important, many also believe that they aren't getting enough help preparing for that transition, according to a new survey conducted by Mathew Greenwald & Associates Inc. for John...

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