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...

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...

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...

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...

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...

Succession planning, Aussie style

November 13, 2011

Regardless of differences in regulation, compensation or specific products, there is one issue that unites financial advisers around the world: succession planning. Whether here or abroad, the adviser community continues to gray, and succession...

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...

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...

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...

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...

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...

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...

'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...

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...

Succession planning's not about you

November 4, 2012

For several years, research has pinpointed succession as a potential trouble spot for an aging advisory business. But retirement is not the only problematic succession issue, and maybe not even the most important one. Our inaugural study on...

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...

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...

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...

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