Results for "succession planning"

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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...

When internal transitions go wrong

September 27, 2009

For good reason, most financial advisers prefer internal to external transitions when planning their business' succession. Internal transitions allow for greater client and staff continuity, give the departing owner an opportunity to play a...

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...

Don't bet on an aggregator deal

December 4, 2011

Owners of independent advisory firms have been hearing lots of talk of aggregators — firms that include Fiduciary Network LLC, Focus Financial Partners and United Capital Financial Advisers LLC — that are scooping up top registered investment...

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...

Developing a workable succession plan: What do advisers really want?

May 11, 2014

The enormous focus in recent years on empowering succession planning on the part of broker-dealers and custodians is truly laudable and reflects the inescapable changes that the aging of the overall financial adviser population will bring to...

Strategic succession planning

June 2, 2013

Why should management succession be high on the list of strategic priorities? Because owners of financial services firms can maximize the value of their businesses by making management succession part of their strategic plans. There are a number...

Advisers still have a really big succession problem

April 25, 2018

Financial advisers continue to find succession planning difficult, with 73% not having a written plan in place, according to a new study by the Financial Planning Association and Janus Henderson Investors. The results, little changed from a...

10 issues every plan should address

September 9, 2012

This is excerpted from a column that originally appeared in The Adviser's Consultant, a monthly practice management newsletter published by InvestmentNews. No single succession plan will be right for every firm. Succession plans will be as different...

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...

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...

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....

One adviser's takeaway on the importance of planning

July 27, 2014

Lessons learned at his father's side in the practice Let's dispense with the discussion about whether you need a succession plan, as it would be a waste of everyone's time. Take it from me, it's not “if” but purely a question of “when”...

Advisor Group's Jamie Price: The real reason why most advisers don't have a succession plan in place

May 23, 2017

Eighty percent of advisers do not have a succession plan in place, though about half of them already know they will need to transition their businesses within the next 10 years, according to Jamie Price, president and CEO of Advisor Group.

Accurate figures point the way

June 12, 2013

Brad Bueerman, executive vice president at FP Transitions, knows advisory practices. In fact, he's looked at thousands of them with the goal of helping owners increase their value. The demand for an accurate valuation of advisory practices has...

The succession discussion has to change

August 4, 2016

Succession planning is a dirty word. How can I say this—being that I consult with advisers about succession all the time? Ten years ago, approximately 20% of advisers had a succession plan. Today, despite years of events, articles and software...

Succession planning: By the numbers - 92%

May 30, 2012

92% of advisers recognize that it is highly or moderately risky to not have a succession plan in place. Source: 2012 IN Adviser Solutions Succession Planning Study

Grooming heirs is a continuous process

December 1, 2013

Financial advisers who own a firm or have clients who are business owners appreciate the need for sound succession planning. Having a plan in place ensures stability well into the future, which means that clients are more likely to be around...

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...

Peeking inside adviser M&A

September 8, 2013

The term “M&A” is thrown around rather loosely. We read about mergers-and-acquisitions activity in financial publications daily, but usually what is being reported relates to one corporate giant acquiring another — for example, Verizon...

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