By Mindy Diamond, As seen on Forbes – With all that’s been going on in the world, it’s hard to imagine that the first half of 2020 would be an active one for advisor movement. Yet, by our count, 23 teams managing a billion dollars or more – representing almost $50B in assets – transitioned to another firm or model.
Our weekly insights for advisors: Articles authored by our team designed to broaden your perspective and arm you with knowledge—because knowledge is power.
By Wendy Leung, WealthManagement.com – 2020 was off to a great start for advisors seeking new opportunities. Who could dispute the expansion of the landscape, advances in technology and widespread access to resources once only available at wirehouses? It seemed clear that advisors had more choice and opportunity than ever before. Then COVID-19 hit—changing the course of the year and of our world.
By Louis Diamond, InvestmentNews – An interesting trend is developing amongst the largest and most successful independent broker dealer (IBD) practices. It’s a high-class problem to have—one that we see at every IBD when the top 5–10% of individual practices (those typically generating in excess of $3-5mm of GDC) reach a point where they begin thinking about their end game and how they will monetize their life’s work. They are essentially “growing themselves out of the market.” That is, their practices have reached a point in which there is not a viable successor within their broker dealer network.
By Mindy Diamond, As seen on Forbes – As the mayhem of March is replaced by a resignation that this is “just-how-it-is-for-now,” advisors tell us they’re ready to step out of crisis mode-thinking to focus more on the big picture.
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 Mindy Diamond – Goldman Sachs Private Wealth Advisors (PWAs) are opting to change jerseys at an eyebrow-raising rate. In the past 3 years, 14 teams, each managing at least $1 billion, have left. Where they’ve gone has been diverse, but it’s the fact that they are leaving at all that’s most noteworthy.
Crisis Underscores the Value of Freedom, Flexibility and Fiduciary Responsibility for this $1B+ Independent Firm
By Mindy Diamond and Louis Diamond, WealthManagement.com – For the founders of Requisite Capital Management, going independent was a philosophical shift from being employees at UBS which has a fiduciary duty to shareholders vs. being business owners whose fiduciary responsibility is to clients—and no one else.
By Louis Diamond, WealthManagement.com – With so much uncertainty and negativity pervading our lives, it’s helpful to imagine a future where we witness positive effects of the crisis on the RIA industry.
By Mindy Diamond, InvestmentNews – In an industry where widespread change was already underway, there’s a new wave of evolution ahead. Here are 10 predictions for what advisors can expect in a post-COVID-19 world.
By Mindy Diamond, WealthManagement.com – Although the game of life feels like it’s been put on hold, there are things we can be doing to make the most of our time.
Recent News & Articles
- Industry Update on M&A: Meet the Investors—Why It’s Important for All Advisors to Know Who They Are
- $421m team breaks away from Oppenheimer
- Stifel hires former UBS, Merrill teams to staff two new offices
- 3 Options for Advisors who are Feeling “Stuck” After Having Signed on the Dotted Line
- Career Merrill Broker in Michigan Joins Another Alum’s RIA
Subscribe for Updates