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Summary: In any business, effective leadership is critical for a firm's success. As the financial advisory market evolves, leaders in the advisor space need to be visionary and adaptable. The prevalence of small businesses in the industry, however, requires a different approach to the traditional leadership model.
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Summary: The Alliance for Registered Investment Advisors (aRIA), a think-tank comprised of six elite RIA firms that collectively manage more than $20 billion in client assets, today released the final two case studies of a six part series on their member RIA firms. Entitled "The Grass Is Only Greener If They See It: Helping Wirehouse Firms To View Your Firm As A Destination" and "Turning Your Practice Into A Business: Creating Profitable, Manageable & Sustainable Enterprise Value".
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Summary: t goes without saying that successful advisory practices are built on working long hours, developing the right skills and leaning on experts for help. But along the way, sometimes an event or situation arises that gives a fledging financial adviser that needed boost to help him or her realize their dreams: the lucky break.
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Summary: Expect banks to become bigger players in the wealth management space. According to a new study by Fidelity, over half of bank executives expect to grow their revenue from wealth management practices by 25 percent in the next five years. After dealing with the financial meltdown and the effects of regulatory change, banks are now looking for new revenue opportunities, with a particular interest in fee-based business, according to the Fidelity Bank Wealth Management Study.
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Summary: For advisors, technological change can seem both lightning fast and very slow. As Victor Fetter, LPL Financial’s chief information officer, pointed out in his keynote session at February’s Technology Tools for Today conference, the broad technology themes for advisors — the cloud, mobile, social tools and business intelligence — are largely unchanged from a year ago. In fact, almost every session or product announcement at the conference was in some way tied to one of those themes.
