Results for "succession planning"

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What it's like being an African-American financial adviser

December 14, 2015

It's lonely and really tough work, according to six financial advisers who are working to build the Association of African American Financial Advisors, known as Quad A. They sat down with InvestmentNews editor Fred Gabriel and reporter Liz Skinner...

Smarter tech can mean a better deal

December 13, 2015

Selling a successful wealth management business is one of the hardest things an owner will ever do. Intense negotiations and emotions compound the pressure of determining an optimal valuation for the firm while also keeping the practice running...

Four ways to make a breakaway smoother

December 8, 2015

With Thanksgiving over and the rest of the holiday season creeping up on us, now is the time when advisers begin to finalize their business and strategic plans for the upcoming year. For many on the wirehouse side, that means laying the groundwork...

Adviser's Consultant: A successor's take on a winning transition

November 18, 2015

Eric Hehman knows handing over the reins of a beloved advisory business isn't easy, but he believes founders should keep in mind that it's no cakewalk for the successor either. The chief executive of Austin Asset, a $640 million registered investment...

The costly mistake 80% of advisers make

November 2, 2015

Succession planning is a critical yet woefully neglected business necessity that could cost advisers millions of dollars if not properly handled. Depending on what survey you read, as few as 1 out of 5 financial advisers have a binding and credible...

Have founderitis? Learn to let go

October 27, 2015

The average age of advisers is well into the 50s, leading to an industrywide search for the next generation of advisers who will lead the firms of the future. Finding the right next-gen adviser is just part of the challenge. For those of you...

Who earns what?

October 17, 2015

Below is a snapshot. For more information, visit research.investmentnews.com/dashboard, where you can also benchmark staffing levels, compensation and income statement data based on certifications, firm size or firm type. SALARY BY POSITION...

IN's Best Practices awards highlight performance, most advantageous use of staff and tech

October 12, 2015

InvestmentNews has selected 24 firms that have gone above and beyond in growth and financial performance this year. Two InvestmentNews research studies, the Adviser Compensation & Staffing Study and the Adviser Technology Study, highlighted...

A different kind of goal: Three business lessons from the hockey rink

September 11, 2015

Countless business leaders, including Steve Jobs and Warren Buffett, have borrowed hockey great Wayne Gretzky's famous quote: “I skate to where the puck is going to be, not to where it has been.” As the founder and chief executive of a national...

Succession planning through the eyes of a client

September 11, 2015

Imagine for a moment that you work with a professional who has a position of extraordinary trust. He has the power to impact your financial future and that of your family. You have built a relationship over many years and he has, in some way,...

Which adviser designations yield the highest pay?

September 8, 2015

The extra sweat it takes to earn a chartered financial analyst credential apparently pays off for financial advisers in terms of added compensation. Lead financial advisers who have attained a CFA designation earned on average a median $147,743...

Independent advisers' growth is slowing

September 4, 2015

Growth at independent advisory firms is slowing, and advisers may be having a harder time winning new clients. Over the past five years, the industry has seen average revenue rise. But the median rate at which firms are attracting additional...

Avoid assumptions when forming partnerships

August 28, 2015

As the number of mid- to large-size firms in our industry has increased, so too have the discussions related to making partner in a firm. Unfortunately, given that we're still in the experimental stages of this evolution, the discussion is often...

Use exit interviews to ensure employees are happier than Amazonians

August 20, 2015

The compelling New York Times article that depicts a stressful and brutal work life at the consumer-focused Amazon is a great reminder to all business owners to make sure they're in touch with employee sentiment. One effective way company heads...

AMG subsidiary acquires $7 billion RIA focused on high-net-worth clientele

July 13, 2015

The Affiliated Managers Group Inc. unit that takes stakes in independent financial advisory firms said Monday it acquired myCIO Wealth Partners, a Philadelphia-based firm managing $7 billion in assets for wealthy clients. The deal is the latest...

7 strategies for holding on to families - Strategies for keeping clients

July 13, 2015

As $30 trillion gets passed down from baby boomers to Generation X to millennials, advisers risk seeing their hard-earned asset base evaporate. 66% of children fire their parents' adviser after inheriting wealth. What can advisers do to keep...

The dinosaur in the room – coping with change

June 22, 2015

"It's not the strongest of the species that survives, nor the most intelligent, but the ones most responsive to change." — Charles Darwin “Jurassic World” is making a killing at the box office. Interesting to think about how such powerful...

From the C Suite with Wetherby Asset Management CEO Debra Wetherby: Aim to be inspirational, not authoritarian

June 19, 2015

Along the challenging route toward building a $4 billion advisory firm, Debra Wetherby transformed herself into a more patient and nurturing leader. The Syracuse, N.Y., native learned the value of speaking last in a meeting, one-on-one discussions...

Breaking up (an advisory firm) is easy to do?

June 9, 2015

Three advisers who have lived through both bitter partnership breaks and now an amicable one said the latter is worth the time and effort because it's easiest on clients. A year ago FJY Financial co-founder Dan Joss left the advisory firm he,...

This 99-year-old adviser has never lost a client

June 2, 2015

As she nears 100, Irene Bergman has some advice for enjoying a long career on Wall Street: Don't do anything stupid. Consider investment returns, the financial adviser at Stralem & Co. said in an interview at her New York apartment, where, surrounded...

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