By Deborah Aronson, FA-Mag.com – While the acronym “OSJ” may be a familiar one, few advisors are aware of the features and benefits – and potential advantages – the model provides.
By Deborah Aronson – Advisors choose to move from one wirehouse to another for a number of reasons, not the least of which is their turnkey nature and brand cachet. In the last few years, though, a new motivator has emerged: the desire to make an interim move before making the leap to independence.
By Deborah Aronson, WealthManagement.com – Wirehouse retire-in-place or sunset programs offer senior financial advisors access to their firms’ built-in succession plans and a pathway to unlocking liquidity, while next gen advisors stand to grow their asset base. But rather than just sign on the dotted line, next gen inheritors (and their senior partners) are hitting the pause button and striving to be more educated consumers.
By Deborah Aronson, WealthManagement.com – Long before the pandemic hit, the independent space was gaining traction among advisors craving greater control over their business lives along with a better way to serve clients. Yet, there’s a population of advisors who watched from the sidelines as their respected colleagues made the leap. That is, advisors who had growing frustrations with their firms’ and yearned for the freedom and flexibility of independence, but were besieged by concerns about leaving the comfort, familiarity and infrastructure of the brokerage model.
By Deborah Aronson – Consider this: You’re the senior most advisor on a multi-generational team managing nearly a billion in assets at a firm you’ve been with for three decades. Over the years, you’ve assembled a stellar group of seasoned, mid-career advisors, as well as several more junior partners. And it’s a great team—clients consistently acknowledge the high level of service they receive.
By Deborah Aronson – There’s a battle for control taking place between big brokerage firms and the advisors who work for them—a battle that advisors are losing more of as each year goes by. Deferred compensation often serves as the firms’ ammunition – a way to control behavior and keep advisors in their seats – in an attempt to stave off attrition.
By Deborah Aronson – A new breed of service providers has emerged, designed to cater to the needs of a growing population of financial advisors who have their sights set on independence. For a population of advisors that previously had limited options in the independent landscape, a new world awaits.
By Deborah Aronson – While some may argue that the importance of culture is overrated, it’s hard to deny its significance when it comes to attracting, developing and retaining talent. Culture embodies the ideology of a firm—it’s the organizational glue that binds together leadership and employees. It can also make some companies fantastic places to work at while others, unfortunately, toxic.
By Deborah Aronson – It’s natural to begin an exploration process with preconceived notions, guided by confirmation bias; that is, the desire to “prove” our thoughts are well-aligned with reality. Yet, as the due diligence process unfolds, you may find yourself more confused than when you started—maybe even losing sight of what prompted you to explore in the first place.
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.
