Results for "succession planning"

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Jud Bergman remembered, and what happened at Envestnet when the CEO suddenly died

December 11, 2019

In an emotional tribute to Envestnet Inc. founder Jud Bergman, his business partner, William Crager, spoke Wednesday at the MarketCounsel Summit in Miami Beach about Mr. Bergman's sudden death in October, their decades of friendship and the...

Being mindful about retirement

November 8, 2019

I recently googled "Joni Youngwirth." Wow — what an experience. The results that came up took me through the history of my professional life, or at least the last 20 years of it. During that time, I probably authored more than 200 articles...

RIA consolidation could put $2.4 trillion in play over next decade

November 18, 2019

The aging financial adviser demographic is expected to put $1.6 trillion worth of client assets in play over the next five to 10 years, according to research from Cerulli Associates. The Boston-based consulting firm counts $2.4 trillion in client...

RIAs rushing to sell at the top could put buyers in the driver's seat

November 6, 2019

Financial advisers looking to cash in on the record-level valuations in the midst of record-level acquisition activity in the registered investment adviser space would be wise to seek outside help, according to some of the industry's busiest...

Growing your practice beyond you

October 14, 2019

Picture this — you're on a boat. The boat is sinking and you're trying to plug the leaks, but new holes keep popping up. At this point, you don't know whether you'll sink or float. This situation may sound all too familiar to advisers. When...

A better set of performance metrics for RIAs

October 3, 2019

As in every field, financial advisers have a standard set of metrics they use as a barometer for success. Think of times you've met a fellow adviser. To get a sense of her firm, you likely asked about its assets under management, its growth...

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...

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...

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...

Sell but stay, and watch your business grow

October 15, 2019

I spoke at a conference recently, and I couldn't help but notice the advanced ages of many of my peers. The fact is that our industry is full of advisers who are approaching retirement age. And, in speaking with them, I learned that a few have...

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...

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...

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...

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...

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...

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,'...

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...

Adviser's Consultant: Hammering out succession plans that work for everyone

June 26, 2017

Charlie Fitzgerald spent the last five years or so figuring out how to equitably pass on his 19-year-old financial advice firm, Moisand, Fitzgerald, Tamayo, to the next generation. The Orlando-based firm structured agreements three years ago...

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...

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...

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