By Mindy Diamond – While top of the food chain advisors generally don’t need the money that a transition package would pay them if they were to change firms, still no one would move without the monetary incentive. And even the wealthiest wouldn’t argue with an outsized payday. To be sure, advisors generating more than $3 million in annual revenue are thinking about much more than their own personal financial gain; they’re thinking about:
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 – Taking the time to step back from the day-to-day demands of the business to assess personal and professional goals is a critical yet often overlooked exercise that can help financial advisors define and achieve their best business life. “But I still haven’t found what I’m looking for.”
By Mindy Diamond – “I am incredibly frustrated about my firm’s change in advisor compensation and the fact that it will cost me $XXX a year in take home pay.” Sound familiar? It does to us because the beginning of the year is a time when we see a significant rise in the number of conversations we have with FAs about this topic.
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.
By Mindy Diamond – With 2014 almost in the bag – and 2015 only days away – it’s that time again to reflect on what’s behind us and project about the year that lies ahead. 2014 was a good year in a lot of ways. The markets cooperated and are up just over 7% as of this writing. The price of oil dropped significantly, and retail and housing sales are up. And, while there weren’t a great number of financial advisors that changed jerseys this year, the ones who did were paid huge premiums to do so, signaling the beginning of a real “seller’s market.”
By Mindy Diamond – Last week’s MSUM14 brought together some of the biggest names and brightest minds in the independent financial advisor world – and many that you will recognize from outside of our space – to share knowledge and insights on the future. The energy was greater than I have ever seen, and – unfortunately – an energy that is rarely experienced in the broker dealer world.
By Mindy Diamond – The day began with the battle between custodians as Dynasty Financial Partners CEO, Shirl Penney, engaged Fidelity’s Mike Durbin, Pershing’s Mark Tibergien, and Schwab’s Bernie Clark.
By Mindy Diamond – One very important point I want to convey – especially to the wirehouse audience – is that the vibe, energy and caliber of attendee that exists at a conference like MarketCounsel Summit (MSUM) also exists at custodian conferences like Schwab IMPACT, Pershing INSITE, Fidelity’s Executive Forum…or any of the others.
By Mindy Diamond – Day 2 at MSUM14 proved that the momentum we are sensing around independence for financial advisors is real, sustainable and will likely accelerate based on a burgeoning number of options available and a new breed of young investors ready to fuel them.
By Mindy Diamond – The MarketCounsel Summit kicked off with the shot heard ‘round the financial advisor world. Rarely do you find such a fortune of financial wisdom gathered together in one place.
Recent News & Articles
- A 20-year Merrill Lynch veteran got Sanctuary Wealth to $10 billion in AUA in 15 months with no outside capital and no time in bed
- Why Fewer But Bigger Advisors Are Switching Firms This Year
- Tech is now essential in the battle to recruit and keep wealth talent. Deutsche Bank and Morgan Stanley execs gave us their pitch.
- Determining Enterprise Value: 7 Key Qualitative Drivers for Sellers
- First Republic adds $500m-plus UBS team