There are plenty of reasons why independence isn’t for everyone. Listen in as Mindy and Louis break down the 10 most common reasons for financial advisors to “not make the leap.”
Multi-channel models are one of the hottest options for financial advisors, providing a path from employee to independence without changing firms. John Peluso, president of Wells Fargo’s First Clearing talks about the benefits, innovation and more.
Mindy Diamond Quoted – By Mason Braswell, AdvisorHub – Morgan Stanley Wealth Management has hired a big Merrill Lynch Private Wealth Management team based in Florida and New Jersey as it adds to the list of multi-million-dollar hires from the rival wirehouse.
By Mindy Diamond, WealthManagement.com – Financial advisors who opted-in to Merrill’s CTP (Client Transition Program) are finding they are stuck in the ironclad agreement, bound by a strict non-compete and clawbacks. It’s a cautionary tale for advisors who have yet to sign on.
By Mason Braswell, AdvisorHub – Morgan Stanley Wealth Management continues to flex its recruiting muscle at the expense of rival Merrill Lynch. Todd C. Gray and Rosa M. Quartuci joined Morgan Stanley on Friday in Red Bank, New Jersey, along with client associate Janyve Almanzar last Friday, according to their BrokerCheck registration records.
Louis Diamond Quoted – By Miriam Rozen, Financial Advisor IQ – Recent legal actions have focused attention on wirehouses’ deferred compensation plans, a persistent source of discontent for some financial advisors, according to recruiters. In late December, a new lawsuit targeted Morgan Stanley’s deferred compensation practices, challenging its policies which defer as much as 15% of top-earning advisors’ pay, according to the allegations.
By Wendy Leung – When considering a move, it’s natural for advisors to wonder whether clients will follow them to the new firm. Yet the desire to share the news can completely derail a transition to another firm. Here’s what top attorneys recommend when it comes to communicating with clients before, during and after a move.
By Mindy Diamond, Forbes.com – The ever-expanding wealth management industry landscape represents a waterfall of possibilities for every advisor and their clients. And having a clear understanding of the environment you’re building your business in is critical—regardless of whether you have a desire to move or not.
By Mindy Diamond – In a landscape with more opportunity than ever before, many financial advisors who are looking for recruiting deals still find themselves chasing a perfect option that doesn’t exist. Here’s how to escape that trap.
By Mindy Diamond, Forbes.com – The process of considering change is a complex one, where an advisor’s goals often conflict with preconceived notions—the latter of which can take hold, distracting him from focusing on what’s best for the business overall. It’s a mind game that many get stuck playing, essentially driven by FEAR: That is, False Evidence Appearing Real. Deep down, they know it’s time to make a change, but are fixated on what they think “might happen” if they do.
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