Ex-UBS advisor Robert Harris felt that the firm no longer allowed his team to serve their clients’ best and greater potential existed elsewhere. His partner didn’t agree. It’s a common thread amongst many partnerships who reach this crossroads.
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 Mindy Diamond, WealthManagement.com – Over the past several years, big brokerage firms have become more risk averse, creating an incongruence between advisors who want to provide a customized experience for their clients and compliance departments that continually want to tighten the box around them. Advisors at big firms have found themselves in a world driven by a zero-tolerance culture, where compliance departments rule with a heavy hand and management is focused on the lowest common denominator.
By Mindy Diamond, WealthManagement.com – Big brokerage firms have long encouraged advisors to form teams. For advisors, there is strength in numbers when it comes to serving clients and building their businesses. For the firms they work for, teams represent a business advantage and a hidden retention strategy. It’s thought to be harder to recruit away a group of advisors than it is an individual, as the various personalities, goals and risk tolerances of a team can be more challenging to solve for.
By Mindy Diamond, WealthManagement.com – Take it from me: Working with your spouse can certainly be challenging at times, but it can also be
a positive.
