By Barbara Herman – Whenever an advisor contemplates a move – regardless of the destination being a wirehouse, boutique, regional or independence – it’s important to assess the portability of the business. That is, identifying if the assets can be moved, and whether or not your clients will follow. Only when you have worked through this thought process can you really determine if a move makes sense.
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 Deborah Aronson – After months of performing thorough due diligence, you’ve finally decided to pull the trigger and make a move. You may even have a start date on the calendar. Now what? While you may feel that you’ve covered all of your bases, there are steps that every advisor should take to ensure your transition goes smoothly. Moving to a new firm requires a degree of preparedness and should be well thought-out. In fact, we often recommend that advisors begin preparing for their transition three months before their anticipated move date.
