Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
All Articles
Wirehouses sweeten succession deals for retiring advisers
From InvestmentNews
Added on March 2014 in Plan for the Future
2 visitors like this article | Viewed 3550 times | 0 comment
Summary: As competition for the assets of retiring advisers heats up, the wirehouse firms have been updating their succession programs for aging advisers. This year, the big four are knocking the dust off old succession programs and revamping them with new names, higher payouts and lower barriers to entry.
Are You Worth More Than 1%?
From wealthmanagement.com
Added on March 2014 in Form an RIA
0 visitor like this article | Viewed 4319 times | 0 comment
Summary:
RIAs are loathe to increase their fees, believing it alienates clients. But a recent analysis by Russell Investments shows advisors are worth as high as 4.33 percent, much higher than the typical 1 percent that many FAs charge for their services. In a blog post on Russell’s website, Brad Jung writes that the value of an advisor is more than 1 percent. Jung suggests advisors use the following formula to determine how much they should be charging:
A + B + C + P > Your fee
Banks See Wealth Management New Cash Cow
From wealthmanagement.com
Added on March 2014 in Thought Leadership
1 visitor like this article | Viewed 3591 times | 0 comment
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.
Prepare to be patient if you aim to serve wealthy business owners
From InvestmentNews
Added on March 2014 in Manage Your Practice
2 visitors like this article | Viewed 3939 times | 0 comment
Summary: The nation's business owners are an affluent bunch and they require a broad swath of services from a financial adviser — but the potential pay-off to advisers may be many years down the road. About one-third of the nation's wealthy investors, those who have $1.5 million or more to invest, are business owners, and that proportion jumps dramatically as wealth level rises, a new study finds.
4 New Advisor Tech Trends
From Financial Planning
Added on March 2014 in Thought Leadership
1 visitor like this article | Viewed 3423 times | 0 comment
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.
