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?
By Barbara Herman – There was a time when the prevailing belief amongst advisors was that the corporate name on your business card defined your potential to attract and retain clients via the presumption of irrefutable prestige. Names like Goldman Sachs and JP Morgan created an aura of professionalism and platform superiority that superseded an advisor’s own persona.
By Mindy Diamond – No doubt that financial services firms strongly encourage their advisor ranks to form teams or partnerships because it works to the firms’ advantage: it makes the assets stickier and harder to move and in general, means that clients will receive a more well-rounded experience. But, the question I am often asked is whether the formation of a team or partnership is actually better for the advisor.
By Wendy Leung – The migration to independence has huge momentum and has prompted many advisors to look inward and ask themselves whether they have the entrepreneurial DNA and the mindset to make the leap to independence. In the end, there is no one size fits all answer to this question but here is some food for thought to help you determine whether independence is right for you.
By Mindy Diamond – The high-profile terminations of top advisors in the recent past have put fear into even the most long tenured, productive and “cleanest” FAs. While I completely sympathize with this reaction – and even understand it – I do think it is a bit overblown and unwarranted.
By Barbara Herman – The good news is you don’t “have to”—independence can be as “independent” as you want it to be.
