By Barbara Herman – Advisors who see themselves as career wirehouse folks may assume that little to no due diligence is required when considering a move to another wirehouse. They often move forward, neglecting to ask a few important questions whose answers can define their future with the new firm.
About Barbara Herman
Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...
By Barbara Herman – Advisors who suspect they may have issues or challenges that are negatively impacting the growth of the business, the quality of their service model or operational experience will benefit from performing a “gap analysis”. While it may seem time consuming, it’s actually highly achievable – and effective – by organizing your thought process into these 3 key steps.
By Barbara Herman – There was a time when the prevailing belief amongst advisors was that the corporate name on your business card defined your potential to attract and retain clients via the presumption of irrefutable prestige. Names like Goldman Sachs and JP Morgan created an aura of professionalism and platform superiority that superseded an advisor’s own persona.
By Barbara Herman – The good news is you don’t “have to”—independence can be as “independent” as you want it to be.
Barbara Herman Quoted – By Murray Coleman, Financial Advisor IQ – After years of promoting growth from within, regional broker-dealer Janney Montgomery Scott is boosting recruiting bonuses for new advisors. But it’s not shooting for a big bump in headcount. Rather, Janney is taking a targeted approach — hoping to lure top producers from national brokerages, mainly on the East Coast.
By Barbara Herman – What happens when partners no longer share the same vision? Does a lack of consensus about the future mean the end of the relationship? Advisors are seeing more value in partnerships than ever before, acknowledging that it has become extremely challenging to be a sole practitioner and motivating many to join forces with other like-minded professionals.
By Barbara Herman – Roger has been a financial advisor for more than 20 years, the past 12 of which he has spent as an independent business owner with a broker dealer. In that time, he has built a thriving business as a sole practitioner with over $180mm in AUM. “I love what I do, my clients are happy, and I’m adding assets at a healthy rate of 25% per year,” Roger shared. When he attended his BD’s most recent national conference, he was reminded how much he likes and respects the leadership team and how good it feels to be one of the top advisors under their umbrella.
Barbara Herman Quoted – By Thomas Coyle, Financial Advisor IQ – In recent weeks, the four biggest retail brokerages all updated compensation plans for the 53,000 or so financial advisors who work for them. Most of the tweaks concerned bonuses, and though they differ in the details, experts say they are alike in one vital respect: They’re hard to follow.
Barbara Herman Quoted – By Danielle Verbrigghe, FundFire – A spate of recent firings of high-profile advisors shows that wealth management firms aren’t afraid to cut top-producing advisors in certain situations, but captive brokerages will fight to retain their clients’ assets, recruiters and consultants say.
Barbara Herman Quoted – By Lisa Shidler, RIABiz – Twelve days ago, Nicholas Schorsch shocked thousands of financial advisors at Cetera Financial Group by getting their IBD to accept an unsolicited bid for the company. Now, he is throwing a shindig for 500 of them in New York City.
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