By Wendy Leung – Succession planning has become a hot topic, driven by an aging advisor population and the anticipated wave of retirements coming in the next decade. Planning for one’s next chapter is the best way to ensure the legacy an advisor has worked so hard to build can continue well into the future.
By Mindy Diamond – While the momentum towards independence seems to have increasing traction, the independent world is definitively not for everyone. To be sure, there are plenty of risks and roadblocks that would deter most advisors from leaving the security of their brokerage firms—and in many cases, far more than what might make them actually make the leap.
By Louis Diamond – The conversations around movement to the independent space often center around the “big picture”: The opportunity for an advisor to get out from under the auspices of a larger firm to build an enterprise and legacy based on his own vision and terms.
By Mindy Diamond – While there is no shortage of hungry and capable acquirers for well run, compliant and growing independent businesses, sometimes the best acquirer can be a big firm with deep pockets, robust resources and platform, cutting edge technology, turnkey access to specialists, senior leadership, and virtually anything the business may need to support it.
By Mindy Diamond – Like most of us, advisors consider change for a multitude of reasons, yet we find that most of these can be placed into one of two categories: Push or Pull. The “push” category is built of those things that cause frustration and make us feel out of control. “Pulls,” on the other hand, are those things we want or desire.
By Deborah Aronson – Growth doesn’t happen by accident—it begins by knowing where you are today and where you want to be tomorrow. If you’re an advisor at a wirehouse, you’re likely limited to growing organically; that is, one client at a time. But for those who really want to turbocharge their growth and take it up a few notches, organic growth alone is typically not enough.
By Mindy Diamond – With an industry landscape that offers more choice and opportunity than ever before, advisors have little excuse to be living anything but their best business lives. Yet day-to-day relationship management and investment decisions take priority, so few rarely stop and take a close look at whether or not where they are is still serving their clients and business best—especially if they are not all that unhappy.
By Barbara Herman – The movement of billion dollar premier wirehouse teams has become part of the industry’s new normal. Consider Paul Feinstein’s move from UBS to First Republic, or Matthew Celenza’s move from Merrill Lynch to Dynasty. Headlines aside, what many don’t realize is how much goes into moving behemoth teams like these. Ultimately, what we find is that the bigger the team, the bigger the obstacles they are likely to encounter.
By Louis Diamond – Going independent seems to be the loudest buzz these days. It’s clearly where the puck is heading for more and more wirehouse teams—especially since 3 of the 4 major firms have announced plans to pull back on recruiting (at least for now). However, while the basic tenets of independence – autonomy, flexibility, control, creativity, superior take-home economy, empowerment – are particularly appealing to many, it is near impossible for the majority of even the most entrepreneurial advisors to get from “here to there”.
If you are an advisor who is looking for a greater level of freedom and a chance to build what our forefathers saw as the American dream – that is, a business based on choice, flexibility and an opportunity to build equity for your future – then you’ll want to read these articles.
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