By Barbara Herman – The search for a “better culture” has emerged in recent years as one of the single greatest drivers of advisor movement. Yet the term “culture” itself can evade simple definition. Culture can encompass an organization’s system of values and priorities, and influence every decision. It’s the undercurrent that directs, either subtly or overtly, the choices made and the paths taken.
Barbara Herman Quoted – By Charles Paikert, Family Wealth Report – What keeps owners of wealth management firms up at night? Compensation, recruiting, retention and equity certainly top most lists. According to Schwab’s 2020 Compensation Report, median compensation costs are 70 percent of revenues for firms with over $100 million in AUM.
By Andrew Welsch, OnWallStreet – Stifel signed on two teams managing more than $450 million in combined assets to staff two new branch offices, according to the firm, furthering the regional broker-dealer’s aggressive hiring streak in recent months.
By Barbara Herman – The strength of even the most successful partnerships may be tested when advisors consider changing firms. Many get stuck, reaching an impasse that can lead to a loss of momentum in both the business as well as the exploration process. Here are 4 paths to consider.
By InvestmentNews – A team of advisers that managed $1.2 billion in client assets at UBS in Overland Park, Kansas, is joining Raymond James & Associates, the broker-dealer’s employee adviser channel.
Barbara Herman Quoted – By Asia Martin, WealthManagement.com – When Emily Bowersock Hill read about Evans May Wealth joining Sanctuary Wealth Management from Merrill Lynch in 2019, she found a familiar story. The Indianapolis-based women-led firm sounded a lot like that of The Hill Group, a practice she started with her now retired father, Stephen Hill, that managed $500 million at Morgan Stanley.
By Ian Wenik, Citywire – A team of ex-UBS advisors in California has launched its own TruClarity-backed RIA. Father-and-son duo Nick and Bryan Garris, along with Orlo Elfes, have launched TriaGen Wealth Management in Calabasas, Calif. The team managed around $330m while at the wirehouse.
By Investment News – A three-adviser team managing $330 million in assets at UBS has formed TriaGen Wealth Management, a registered investment adviser, in Calabasas, Calif.
By Barbara Herman, WealthManagement.com – It’s impossible to come through what the world has endured over the past few months without being changed in some way. Yet people are incredibly resilient, demonstrating an ability to reinvent themselves and rethink both their behavior and mindset when circumstances require it.
By Barbara Herman – It’s quite evident that the industry landscape has expanded dramatically—and an advisor in exploration mode has more to consider than ever before. As a result, it may be a daunting task for most to face the prospect of performing due diligence. Nonetheless, there is value in periodically exploring to gain an understanding of the legitimate options that exist—whether you’re thinking of moving or not.
