By Louis Diamond, WealthManagement.com – Traditionally, a wirehouse advisor looking to monetize his business had few choices: Either move to a firm paying a “recruiting deal” or signing on to his firm’s sunset program. But what are the options for entrepreneurial advisors looking at the independent space but still needing capital? Actually, quite a few.
By Mindy Diamond, WealthManagement.com – 3 years later, financial advisors are still asking: Will Merrill leave the Protocol? And if Merrill opts out, what does that mean for advisors at the firm?
By Wendy Leung, WealthManagement.com – It’s hard to ignore the recruiting success regional firms have experienced over the last few years. For example, in 2019 Stifel Nicolaus and Raymond James recruited some $20B and $11B in AUM respectively—both firms ranking in the top five of all firms in the entire industry when it comes to recruiting.
By Mindy Diamond – The process of considering change is a complex one, where an advisor’s goals often conflict with preconceived notions—the latter of which can take hold, distracting him from focusing on what’s best for the business overall. It’s a mind game that many get stuck playing, essentially driven by FEAR: That is, False Evidence Appearing Real. Deep down, they know it’s time to make a change, but are fixated on what they think “might happen” if they do.
By Mindy Diamond, WealthManagement.com – In today’s increasingly competitive marketplace, brokerage firms have doubled down on their efforts to retain top talent. With a vast arsenal of retention tools at the ready, advisors regularly face choices that solidify their obligations – as well as their assets – to the firms they work for.
By Barbara Herman – The strength of even the most successful partnerships may be tested when advisors consider changing firms. Many get stuck, reaching an impasse that can lead to a loss of momentum in both the business as well as the exploration process. Here are 4 paths to consider.
By Mindy Diamond – In a year unlike any other, the ability to remain creatively inspired has been difficult in and of itself—that is, finding creative ways to meet the challenges that this new world has presented us with. As such, the source of this creative energy – “inspiration” – can become depleted, making it all the more important to take the time to recharge and replenish this important battery whenever possible.
By Mindy Diamond – It’s hard to imagine that the world could evolve as much as it has in such a short time. As work lives have changed and the industry landscape continues to expand, it’s left many seasoned advisors to wonder how they can have greater freedom, flexibility and control over their businesses. However, they are often stymied by the belief that it may be “too late” for them to even consider it.
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 Mindy Diamond, As seen on Forbes – For employee advisors who are taking a “bigger picture look” at their business, here are 3 valuation scenarios to consider that can help you determine if where you are currently practicing will allow you to maximize value at the end of the day.
