Articles

Motivated by Money

Fri, 28 Oct 2016 19:42:00 +0000

If your only reason to make a move is to hit the proverbial jackpot, the long-term outcomes can be disastrous.

Go It Alone? Or Use a Recruiter?

Wed, 07 Sep 2016 12:57:00 +0000

Perhaps nothing can have a greater impact on your business more than making sure you’re in the right place. A recruiter can act as a guide and advocate for advisors in transition.

Options for Institutional Advisors Are Not Nearly as “Institutional” as One Might Think

Tue, 23 Aug 2016 18:10:00 +0000

With all of the high-profile movement going on in the financial advisor landscape, one area of practice that seems to capture less of the limelight is the institutional advisory space.

You Can’t Escape the Past

Wed, 27 Jul 2016 18:30:00 +0000

A failure to disclose even the most mundane youthful indiscretions could lead to career-damning consequences. Err on the side of caution.

Where Will You Be in a Post-DOL World?

Mon, 06 Jun 2016 09:00:00 +0000

While firms figure out how to interpret and enforce the new DOL rule, advisors can use this time to assess their business model, goals and relationship with their firm.

Going Independent May Require a Stop in Between

Tue, 17 May 2016 09:00:00 +0000

If you’re not quite ready to go independent yet feeling some angst about where you are, consider an interim move to another wirehouse or regional firm.

The New Minimum Requirements of the Advisor-Broker/Dealer Relationship

Tue, 12 Apr 2016 12:35:00 +0000

These days, higher levels of service and support, growth and a strong technology platform are a given at b/ds. Is your firm up to snuff?

No Firm Is Perfect

Mon, 21 Mar 2016 10:00:00 +0000

If you insist on finding the perfect firm, you may be waiting for quite a while and miss out on a good opportunity elsewhere.

Five Questions to Ask Before Jumping to a New Wirehouse

Tue, 16 Feb 2016 20:00:00 +0000

The answers to these five questions may define your future.

Preparing for the Coming DOL Storm

Wed, 20 Jan 2016 15:18:00 +0000

Everyone is likely to be subject to greater compliance oversight.

The Path to Closing an M&A Deal

Mon, 28 Dec 2015 15:00:00 +0000

The key to closing a successful advisory firm transaction is motivation—and reasonableness.

(Emotionally) Free Agents

Fri, 27 Nov 2015 11:00:00 +0000

Will the expiration of retention packages cause an exodus from the wirehouses?

Should an Advisor Move When Markets Are Choppy?

Thu, 22 Oct 2015 15:02:00 +0000

Letting fear govern your future is likely to result in a destiny you’re not happy with.

Happy Advisors Are Better

Wed, 23 Sep 2015 12:00:00 +0000

Can your clients be happy with your current firm even if you aren’t? Probably not for long.

Should I Stay or Should I Go?

Thu, 03 Sep 2015 18:00:00 +0000

When a firm is acquired, advisors are left wondering what’s next for themselves and for their clients.

Living Up to the Name

Mon, 27 Jul 2015 10:00:00 +0000

After the 2008 financial crisis, more advisors began to embrace independence, especially as some of the big names in the brokerage business were in the headlines for mergers, bailouts and Congressional hearings. Many clients recognized that their wealth is not managed by the big name on the letterhead, but by the individual advisor they trust.

Move Once, Monetize Twice

Tue, 07 Jul 2015 09:05:00 +0000

When you weigh all of your options, you may find that switching firms late in your career can provide never-imagined monetary gain.

Nine Ways to Evaluate an IBD

Fri, 15 May 2015 14:41:00 +0000

With so many independent broker/dealers out there, what should an advisor look for when considering a move?

An Advisor’s Guide to Surviving Termination

Mon, 20 Apr 2015 09:05:00 +0000

Termination doesn’t mean an end to a career, but it does mean gathering the right consultants to see your way through.

The Relocation of Institutional Consultants

Tue, 31 Mar 2015 13:00:00 +0000

Institutional consulting teams, notorious for staying put, are now moving around. What’s driving the trend?

When You Move, Clients Move Too

Tue, 17 Feb 2015 10:05:00 +0000

All too often, advisors get caught up in the logistics and timing of a move without thoroughly considering how it will impact clients. That could prove disastrous.

The Comp Grid Dilemma

Tue, 03 Feb 2015 10:10:00 +0000

Do you learn to live with a compensation change or move on?

Spousal Team Dynamics

Fri, 02 Jan 2015 14:56:00 +0000

It takes willingness, understanding and a thick skin to make a spousal partnership succeed, but it’s worth it.

Considering a Move? Conduct a Gap Analysis First

Tue, 18 Nov 2014 10:05:00 +0000

A gap analysis can help advisors determine if they are in the right place, if they should move, and where they should consider moving to.

The Breakup: When Partnerships Go Awry

Tue, 21 Oct 2014 14:56:00 +0000

Problems between partners can often be magnified when the team explores a move.

Take the Sunset Package or Sell the Business?

Fri, 26 Sep 2014 13:00:00 +0000

Making the decision to retire completely or to scale back your work schedule is a big step. Smart advisors will explore their options carefully.

Ten Years of Myths and Moving

Mon, 08 Sep 2014 13:01:00 +0000

In honor of this column’s 10-year anniversary, a look back at the myths about moving and how things have changed.

The Waiting Game

Fri, 18 Jul 2014 13:00:00 +0000

Attempting to time a move might do you more harm than good

Just as you can’t time the market, you can’t time a move to another firm—or, at least, you shouldn’t.

When CPAs and Wealth Managers Come Together

Mon, 16 Jun 2014 17:41:00 +0000

While the advisor and accountant might seem like an odd couple, there are synergies to be had

While the advisor and accountant might seem like an odd couple, there are synergies to be had, as long as the CPA understands that a wealth management firm cannot be run like an accounting firm and vice-a-versa.

Why Aren’t More Women in Wealth Management?

Wed, 14 May 2014 13:04:00 +0000

What’s behind the lack of women in the industry and how we can get more in the ranks

Outgrowing the IBD

Wed, 16 Apr 2014 14:48:00 +0000

The independent broker/dealer model may be holding some advisors back from growing into an enterprise

There are options for entrepreneurial advisors looking to grow their business and run a more efficient operation.

Culture: Hard to Define, Impossible to Ignore

Tue, 01 Apr 2014 21:11:00 +0000

Every firm touts their “culture” as a selling point to recruits. But what does it really mean?

Free Agents

Thu, 27 Feb 2014 15:01:00 +0000

Forgiveness of firm retention packages turns the heat up on recruiting.

The New, New Independence

Wed, 12 Feb 2014 14:00:00 +0000

Many existing independent firms don’t meet the needs of advisors serving ultra-high-net-worth clients and those who want equity ownership. But some new players are starting to change that.

Coming Together

Mon, 16 Dec 2013 14:00:00 +0000

While a successful partnership can be great for an advisor’s business, unsuccessful ones can be a death knell.

The Best Laid Plans

Fri, 22 Nov 2013 14:00:00 +0000

Most advisors are very deliberate and strategic when planning for clients. So why shouldn’t they do the same when planning for their own careers?

When Good Advisors Get Fired

Thu, 24 Oct 2013 13:00:00 +0000

It’s not uncommon for good advisors to get fired, as compliance departments become more vigilant. But there is life after termination.

As compliance departments become more vigilant, it's not uncommon for good advisors to get fired for minor, unintended infractions. But there is life after termination.

Peeking Over the Fence

Tue, 24 Sep 2013 11:00:00 +0000

Is the grass really greener—and growing faster—on the other side?

Are the wirehouses really withering, as advocates for independence claim? For an advisor, the question should not be which side of the fence is better, but rather what is the best environment for my proclivities and skills and where can I best serve my clients?

What’s next for Broker Disclosure?

Fri, 13 Sep 2013 16:56:00 +0000

FINRA is contemplating a rule that would require brokers to disclose any incentives they receive to jump to another firm. It’s likely to pass and that will change how recruitment deals are structured in the future.

Buying Growth

Thu, 29 Aug 2013 12:00:00 +0000

Buying a book of business from a retiring advisor can be a good strategy, but read the fine print, and consider these points.

The Long Road Home

Mon, 22 Jul 2013 14:35:00 +0000

Wirehouse firms are recruiting more independent advisors to their ranks than ever before.

Breakaway broker? More like breakback broker. While the wirehouses continue to lose advisors to the independent channel, they are also luring some large teams of their own back to their ranks.

The Ghost Generation

Fri, 21 Jun 2013 13:26:00 +0000

There’s a shortage of younger advisors entering the field, and it’s only going to get worse. Firms need to beef up their training programs and explore new sources of talent.

The Economics of Choice

Tue, 14 May 2013 16:12:00 +0000

In many cases, the economics of the independent model can be exponentially better than those being touted by the wirehouses today.

The Different Flavors of Independence

Wed, 08 May 2013 13:44:00 +0000

Spelling out the differences of what to expect between HighTower, Dynasty Financial, and Focus Partners

Of Myths and Moving: Part IV

Fri, 22 Mar 2013 14:33:00 +0000

When it comes to preconceived notions about the wirehouse world and independence, many advisors have it all wrong. Here are the five most common myths advisors have today.

You Have Chosen… Wisely

Thu, 28 Feb 2013 14:52:00 +0000

These days, advisors have more choices than ever when it comes to business models, making the decision that much more difficult. Which one best suits you?

These days, advisors have more choices than ever when it comes to business models. Which path do you take?

Independent But Not Alone: How a Former Wirehouse Advisor Leveraged Her Independence to Achieve New Heights

Tue, 29 Jan 2013 14:53:00 +0000

In this interview, Michelle discusses her decision to leave the wirehouse world 6 years ago (she was a “breakaway broker” long before the term was even coined), her partnership with her mother, and her vision for Source Financial Advisors, the specialty boutique wealth management firm she launched several months ago.

Advisor Marriages Gone Bad

Fri, 04 Jan 2013 06:06:00 +0000

For younger advisors, the opportunity to join a more seasoned team might seem sexy on the surface, but it isn’t always what it’s cracked up to be.

FINRA Board Puts Broker Disclosure Rule Out for Comment

Fri, 07 Dec 2012 20:13:00 +0000

The question on the minds of most advisors is whether or not the Financial Industry Regulatory Authority (FINRA) would promulgate new rules at its board meeting yesterday that would compel them to disclose the terms of any recruiter bonus they would receive for moving to another firm.

FINRA Mulls Compensation Disclosure Rule, Again.

Thu, 29 Nov 2012 21:22:00 +0000

The regulatory organization will consider whether advisors should be required to disclose recruitment compensation packages to clients when they change firms.

Recruiter Mindy Diamond on the implications of FINRA's decision to consider requiring advisors to disclose their compensation packages when switching firms.