It’s hard to believe that 2015 is more than halfway over…and what an exciting time it’s been! Lots of changes: big deals, mergers, moves, and more. This week, we help you to “dig deep” and look at your career, clients, and life from a different angle.
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 Barbara Herman – Advisors who see themselves as career wirehouse folks may assume that little to no due diligence is required when considering a move to another wirehouse. They often move forward, neglecting to ask a few important questions whose answers can define their future with the new firm.
By Mindy Diamond – I recently returned from a safari in Africa with my family, an altogether amazing, humbling, awesome experience. Surrounded as we usually are by constant distractions, being in Africa forced me to unplug and turn off the “work” part of my brain. But to my surprise, although Africa is as far-removed from Wall Street as you can get, I couldn’t help but recognize that the jungle echoes some aspects of the life of a financial advisor:
By Mindy Diamond – I’m betting that “Should I Stay or Should I Go,” the 1982 song by The Clash, has come to mind for every Barclays advisor in the past several months. Their roller coaster ride of not knowing what firm they would be working for ended earlier in June when Stifel Nicolaus announced their intent to acquire Barclays’ 180+ advisor wealth management unit. This acquisition is just the latest in the ever-changing landscape of the financial services industry.
By Wendy Leung – Many advisors appreciate the merits of independence including open architecture, the lack of proprietary products and the control they gain over pricing, account minimums and the client service model; yet many will remain in the employee world since they perceive roadblocks that can’t be solved for. Oftentimes this is a case of misperception.
By Mindy Diamond – Corporate culture has been defined as the “organizational glue” of a firm, that is, universal “sentiment” by which an organization behaves and functions. For some advisors, this is a critical aspect of what makes a firm “the right one” for their business, while for others it’s all about the numbers.
By Barbara Herman – Advisors who suspect they may have issues or challenges that are negatively impacting the growth of the business, the quality of their service model or operational experience will benefit from performing a “gap analysis”. While it may seem time consuming, it’s actually highly achievable – and effective – by organizing your thought process into these 3 key steps.
By Mindy Diamond – There’s no doubt we have seen a dramatic shift in the industry – the transference of power from the firm to the advisor – yet many advisors still find themselves “lost”. Unsure of how to answer the question, “Should I stay or should I go”, they’re feeling metaphorically handcuffed to their current firms, regardless of the outsized incentive packages being offered by competitors and the ever-growing variety of options that exist in the independent or alternative landscape.
By Deborah Aronson – As a trusted advisor, you’re always thinking three steps ahead in order to ensure that your clients’ needs are met and their expectations exceeded. It would stand to reason that you should do the same for yourself when it comes to your business. So, while you may be running on all cylinders and you worry about getting distracted, conducting due diligence at a time of relative calm is often the most opportune.
By Mindy Diamond – What does the principal of a successful RIA do when he is likely 5 years away from partial or complete retirement and the appropriate successor for his/her business has not yet been identified?
Recent News & Articles
- Looking at M&A from the Seller’s Side of the Table
- Disillusioned UBS vet bolts wirehouse, declares independence on 65th birthday
- How Mindy Diamond Became a Top Recruiter
- Pittsburgh-Based Advisor Launches $400M Indy With Dynasty
- $3.5 Million UBS Broker Goes Indy, RBC Nabs Wells Vet with $250-Mln Book