Perspectives Blog

3 Key Elements of the Perfect Broker Dealer Partner Profile

By Deborah Aronson – Whether you’ve been married to a broker dealer for the past several years and are searching for a new partner, or you’re exploring the independent broker dealer space for the first time, there’s a new set of factors to consider in a post-DOL world.

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Do you think a lack of courage is holding you back? Think again.

November 7, 2017 By Mindy Diamond Most advisors find that it takes more than courage to get past fear. We’ve all been there many times in our lives: The moment where you need to make a critical decision that can alter everything from that moment on. Your mind and heart race to the point where you feel like you’re about to explode. Then one of two things happens: You make a decision and move boldly on with your life, or fear takes hold and with it comes inertia. Next, you’re feeling like the Cowardly Lion in the Wizard of Oz, […]

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Exiting the Protocol: What does it mean for advisors?

By Mindy Diamond – The announcement of Morgan Stanley’s exit from the Protocol as of November 3rd was just one more reminder that financial advisors are living in uncertain and tumultuous times. It’s become very clear that as an employee, the advisor is not steering the ship. While rumors circulated for several months that any of the wirehouses might opt out in the near term, few of us thought it would really happen. And then it did.

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Redefining Regional Firms: It’s More About Culture Than Geography

By Barbara Herman – Firms like RBC and Raymond James are experiencing such recruiting success nationally that they are redefining what it means to be a “regional” firm. In the past, these firms were characterized most notably by a small geographic footprint. But now the term has come to represent a specific culture that is appealing to scores of advisors across the country who are looking for options outside of the wirehouse world.

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How to Survive the “Opportunity Market” Downturn

By Mindy Diamond – Seems pretty likely that we are due for a market correction—world politics, natural disasters, and Congress’ inability to pass meaningful economic legislation all have an impact on market conditions. Plus, we know most of all that what goes up must, at some point, come down. That’s, for sure, been a trend in recruiting as well, leaving many advisors scratching their heads as to whether deals will ever come back up to what they once were.

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Be Honest: Are You Living the Life You Want?

By Mindy Diamond – It’s so darn easy to let life get away from us—to find yourself a decade or two later stuck in a place you don’t really want to be. Too many demands on our time, playing multiple roles, so many priorities, and inertia, all get in the way of proactively forging a path to living the life we had hoped for.

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Strategically Exploring M&A in the Independent Landscape

By Louis Diamond – Many independent firms reach a point in their business when they’ve hit the proverbial ceiling. That is, they recognize that they cannot sufficiently grow or compete any further on their own. The ability to break through that ceiling, gain scale and even solve for succession typically means considering a merger or acquisition opportunity. Yet finding the right M&A partner can be an arduous task.

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The New State of Wirehouse Recruiting

By Mindy Diamond – For the most part, wirehouse transition packages are at a nadir. While there are some outlier deals – First Republic Wealth Management, Wells Fargo Private Client Group, RBC, and Ameriprise – Morgan Stanley, UBS, and Merrill Lynch have decided to jointly retrench on recruiting, lowering the once high watermark deals considerably. So what does this mean for advisors who are considering their future?

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Surviving the Rumor Mill in the Financial Advisory World

By Barbara Herman – This is an industry where rumors frequently abound. From headlines to hearsay, the stories start out as whispers then circulate fast and furiously. There are the ones that tell of a major firm being on the block or the others of a firm exiting the Broker Protocol. Each creates feelings of uncertainty and concern, and can lead advisors to speculate about what lies ahead. What makes it even more confounding is that sometimes there actually is some truth to the buzz.

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The 3-Year Challenge: Is your firm still right for you?

By Mindy Diamond – With an industry landscape that offers more choice and opportunity than ever before, advisors have little excuse to be living anything but their best business lives. Yet day-to-day relationship management and investment decisions take priority, so few rarely stop and take a close look at whether or not where they are is still serving their clients and business best—especially if they are not all that unhappy.

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