Knowledge and Insight
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Small Firms Try to Fill Adviser Shortage
From Wall Street Journal
Added on November 2013 in Manage Your Practice
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Summary: Pershing and FA Insight, a Tacoma, Wash., research and consulting firm, estimates that the industry needs 237,000 new advisers within the next 10 years to keep pace with market demand as well as replace those retiring. An average of about $850 billion in new investable assets will come available each year over the next decade.
Advisors, Take a Bow: The 2013 People and Pay Study
From Think Advisor
Added on November 2013 in Manage Your Practice
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Summary: This year marks the fifth release of the annual FA Insight “Study of Advisory Firms.” The five-year history of the studies underscores the resilience of the advisory industry. During this period, notable for a global financial meltdown that shuttered major Wall Street firms, advisory firms struggled to maintain their footing. Trying times forced firms to tighten management controls with a new level of discipline that appears to have held through a return to stability.
How adviser salaries stack up to other professions
From InvestmentNews
Added on November 2013 in Manage Your Practice
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Summary: InvestmentNews compares data from the recent InvestmentNews/Moss Adams 2013 Compensation & Staffing Study, which collected compensation information from over 400 firms for over 2,000 positions, against data gathered from Salary.com to see how adviser compensation compares against other seasoned professionals in the workforce today. Here is how they stacked up.
Smart Recruiting Can Secure Your Succession
From Financial Advisor IQ
Added on November 2013 in Plan for the Future
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Summary: Industry observers say the extent to which independent advice firms can keep stealing market share from big-name rivals like Merrill Lynch and Morgan Stanley depends on their ability to transition to next-generation owners. Extending an established trend, indie RIA assets grew by 19% last year, while AUM at the four biggest brokerages were essentially flat, according to Cerulli Associates. Bigger RIAs can merge with approximate equals or acquire smaller firms to see them into the middle of the century. But for smaller RIAs, the best way forward may lie in smart recruiting.
Buying a Practice? 5 Important Valuation Questions
From Financial Planning
Added on November 2013 in Plan for the Future
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Summary: Practice acquisition (acquiring a retiring advisor's practice) is an incredibly lucrative way to grow your business exponentially, and as advisors age, there will be ample opportunity for younger advisors to acquire practices. In the next 10-15 years, there's going to be a glut of “for sale by owner” practices, but the simple fact is that they are not going to be worth the multiples that are being thrown around now. Here are five things to ask the selling advisor and the appraiser before you buy a practice.
