By Barbara Herman – The good news is you don’t “have to”—independence can be as “independent” as you want it to be.
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...
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.
Barbara Herman Quoted – By Susan Konig, WealthManagement.com – Years ago, the wirehouses didn’t consider independent broker/dealers a threat to their business—but rather the place unsuccessful brokers go when they fail at their firms. But today the wirehouses are losing some of their largest and most-coveted corner-office teams to the independents. Wirehouse branch office managers, however, aren’t giving up without a fight. Some are taking a page from the independents themselves to lure and keep top talent.
Barbara Herman Quoted – By Susan Konig, WealthManagement.com – The financial advisory industry is struggling with a shortage of talent, thanks in part to a post-recession reputation challenge and a sometimes closed, largely male, culture.
Barbara Herman Quoted – By Susan Konig, WealthManagement.com – Over the last decade, consolidation and other “efficiency” initiatives have resulted in the loss of jobs for thousands of wirehouse branch managers. …
Subscribe for Updates
Get updated by email when a new article is added.
Recent News & Articles
- Add FAs, Digitize, Cross-Sell: BofA Boss’s Wealth Biz Growth Plan
- Top Tips for Setting Your Business Up for Success Years Before a Move: An Industry Update
- Summit Partners Backs Ex-First Republic Wealth Chief’s RIA Venture
- Leveraging the Power of Mindset to Enhance Your Wealth Management Business
- The Next Chapter: Former First Republic Head Launches RIA with Backing from PE Firm Summit Partners