By Mindy Diamond – It’s an exceptionally active time for the financial services world. No headline is fully dressed without the words “merger” or “acquisition” attached to some of what once were the most exclusive names on the street. As the scale, resilience, and stability of “boutique” firms – such as what was Barclays, Credit Suisse, and now Deutsche Bank – come into question, advisors that work there are living in a world that becomes more uncertain with each day. Then a wirehouse or large regional firm swoops in – seeming to save the day – adding another layer of uncertainty and the possibility of a stay-worthy retention deal or a “free pass” to move on to something better.
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 Howard Diamond – In today’s M&A rich environment, every advisory firm and financial advisor wants to get in on the action. Unfortunately, though, most would-be buyers and sellers come up empty. Why? Because of unreasonable expectations.
By Mindy Diamond – When partnerships are formed, they are always done with the best interests of clients in mind. And done right, a partnership can – and should – also provide the perfect environment for synergy, added capacity and expertise, succession and overall success for the advisors. Yet like with any business, the shared mindset the advisors started out with years ago may not be the same today.
By Wendy Leung – In this day and age of stratospheric wirehouse deals, why are so many uber-productive, high-quality teams forgoing a huge transition incentive check to make the move to independence? While we can all agree that independence offers more freedom, flexibility and control (and for those with true entrepreneurial DNA, that is something hard to put a price tag on), at the end of the day advisors need to understand the economics of independence before they can determine whether it is a viable option for their business.
By Mindy Diamond – The emotional and financial freedom that many advisors have been waiting for is set to arrive in early 2016. That’s when the notes attached to retention packages offered in the wake of the financial crisis to more than 5,000 advisors are set to expire.
By Louis Diamond – We often hear principals of independent firms speak of their desire to increase assets under management, and how they feel that doing so will help ensure their relevancy and solidify their position in the marketplace. While this singular notion may have been a focus in years past, increased competition has caused a shift in goals for many quality firms, a shift towards increasing overall enterprise value by paying attention to the things that most impact it (as discussed in my last post).
By Louis Diamond – The recent spate of mergers and acquisitions has led many principals of independent advisory firms to consider their own futures.
“If we stay along our current course, will we be well positioned not only for growth, but also for increased enterprise value, making us more attractive to buyers of businesses like ours?”
By Mindy Diamond – There are a lot of things that might motivate a successful advisor to leave the security of a big firm and go independent but, from where I sit, the common ground amongst all who make the move is a need for congruence.
By Howard Diamond – Volatility, according to Merriam-Webster, is defined as something that is “likely to change in a very sudden or extreme way.” That’s certainly an appropriate descriptor for the activity the world stock markets experienced through August and the start of September. With these vast market swings, we have been asked time and again if it has had, or will have, a negative impact on financial advisor movement.
By Mindy Diamond – Top advisors tend to have a lot in common, but the trait most notable to me is how driven they are and how much they often sacrifice their own health, as well as emotional and spiritual well-being, for the sake of their businesses. While I am not an advisor, I have to admit that I am guilty of the same thing and I understand the thinking behind it.
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