By Deborah Aronson, WealthManagement.com – Accumulating assets by way of a wirehouse retire-in-place or sunset program has long been considered an ideal – not to mention enviable – inorganic growth strategy for younger advisors. In fact, we’ve spoken with many over the years who have situated themselves as the “go-to” or “de facto next gen advisor” within their branch, poised to inherit the businesses of an aging advisory force. On the surface, such a strategy benefits both constituents: More senior advisors gain access to their firms’ built-in succession plans and a pathway to unlocking liquidity, while next gen advisors stand to grow their asset base.
About Deborah Aronson
Manager – Known for her open and transparent communication skills, and a personal commitment to understanding the needs and goals of the advisors she works with, Deborah acts as their sounding board, educator and trusted partner throughout their journey of finding the right fit for the next stage of their business life. Learn more...
By Deborah Aronson, WealthManagement.com – Long before the pandemic hit, the independent space was gaining traction among advisors craving greater control over their business lives along with a better way to serve clients. Yet, there’s a population of advisors who watched from the sidelines as their respected colleagues made the leap. That is, advisors who had growing frustrations with their firms’ and yearned for the freedom and flexibility of independence, but were besieged by concerns about leaving the comfort, familiarity and infrastructure of the brokerage model.
By Joyce Blay, FA Magazine – Wealth advisor Ahmie E. Baum has partnered with Dynasty Financial Partners to launch new independent RIA Interchange Capital Partners in Pittsburgh, the companies announced earlier this week.
Diamond Consultants Mentioned – By Vicky Ge Huang, AdvisorHub – UBS Wealth Management, Wells Fargo Advisors and Merrill Lynch lost veteran brokerage teams cumulatively managing over $1 billion in client assets in the past few days to non-wirehouse rivals.
By Ian Wenik, Citywire – Dynasty Financial Partners has launched its second RIA in a three-day span. The middle and back-office service provider said Thursday that it has partnered with new Pittsburgh-based Interchange Capital Partners, a seven-person ex-UBS team.
AdvisorHub Staff – Rockefeller Capital has added two more wirehouse notches to its widening belt, recruiting a $1.5 billion-asset team from Morgan Stanley Private Wealth in New York and a Philadelphia-area team from Merrill Lynch Wealth Management servicing about $500 million of client assets, according to sources.
By Deborah Aronson – Consider this: You’re the senior most advisor on a multi-generational team managing nearly a billion in assets at a firm you’ve been with for three decades. Over the years, you’ve assembled a stellar group of seasoned, mid-career advisors, as well as several more junior partners. And it’s a great team—clients consistently acknowledge the high level of service they receive.
By Deborah Aronson – There’s a battle for control taking place between big brokerage firms and the advisors who work for them—a battle that advisors are losing more of as each year goes by. Deferred compensation often serves as the firms’ ammunition – a way to control behavior and keep advisors in their seats – in an attempt to stave off attrition.
By Deborah Aronson – There’s a battle for control taking place between big brokerage firms like Merrill and the advisors who work for them—a battle that advisors are losing more of as each year goes by. Deferred compensation often serves as the firms’ ammunition – a way to control behavior and keep advisors in their seats – in an attempt to stave off attrition.
By Ian Wenik, Citywire – Sanctuary Wealth has added a former UBS broker in San Francisco to its platform. Courtney Jones left the wirehouse on Friday to found Credo Wealth Management, according to her Securities and Exchange Commission (SEC) registration details. AdvisorHub first reported Jones’ breakaway.
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