Results for "succession planning"

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Verbal agreement became a succession plan

August 23, 2019

Sometimes a verbal agreement is all you need to get a succession plan rolling. That was the case in August 2008, when John Middleton walked away from a job as an institutional portfolio manager at Invesco to become a financial adviser at a $41...

Investing tips from the wealthiest family on earth

August 16, 2019

Sam Walton would probably be bewildered by the businesses his grandchildren have chosen to pursue, but the late founder of the world's largest family fortune would likely have applauded their initiative. [More: Estate tax pretty much 'optional,'...

Advisory firm founder carries half his clients' fees into retirement

July 25, 2019

When it comes to succession planning, Jim Mohr is banking heavily on the abilities of the next generation of advisers at the San Diego-based advisory firm he founded 35 years ago. Mr. Mohr, 59, is not yet officially retired from Mohr Financial...

Ariel Investments promotes Mellody Hobson to co-CEO

July 11, 2019

Ariel Investments, the nation's largest African-American-owned asset management firm, has expanded the role of company president Mellody Hobson by promoting her to co-chief executive officer. The $13 billion Chicago-based money manager, which...

How employee stock ownership becomes a succession plan

July 3, 2019

As succession strategies go, the employee stock ownership plan might be the ultimate twofer. For Joe Reeves and Ron Butt, co-founders of Louisville, Kent.-based ARGI, the pursuit of a viable succession plan for their $2.6 billion financial planning...

Hire new college grads, and help plan for the future of your firm

June 11, 2019

Do you have a plan for the future of your firm? Mentoring new college grads is a great answer. Each year, our colleges and universities produce over 2.5 million graduates. Most, obviously, aren't ever hired by investment advisers and financial...

The biggest threat to wealthy families may be internal

June 10, 2019

From geopolitical uncertainty to real estate bubbles, the world is full of risks to investment portfolios. Yet the biggest threat to a family losing its wealth over generations may be internal. Fights over succession planning or individual investment...

Sometimes a sale is the best succession plan

May 28, 2019

When Kara Duckworth and her father Michael Duckworth began looking for ways to transition ownership of the advisory firm they launched in 1998, selling the business was not what they had in mind. "We were originally going to do an internal succession...

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...

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