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Summary: According to a survey conducted by TD Ameritrade Institutional, more independent registered investment advisors (RIAs) are making the move to develop a formal succession plan and most say they will identify an internal successor. According to the quarterly survey of 502 RIAs, 62 percent of advisors say they have or are in the process of developing a succession plan, up from just 43 percent in2010.
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Summary: For many, 2011 will be remembered as the year the broker-dealer model cracked. Scores of independent firms shut down, unable to keep up with rising legal and compliance expenses. Dozens were simply buried under the cost of lawsuits from clients who bought suspect private investments when the market was roaring in the middle of the last decade.
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Summary: The editorial challenges our government to get it right and support entreprenurial efforts to promote job growth. Schwab sites his own upstart in 1974 when that economy, like today, was bleak. Schwab urges the government to reduce regulatory roadblocks, enocurage entreprenurial investments, create a culture of certainty; all will breed the confidence that is critical for our country to thrive.
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Summary: Bernie Clark rallies the troops stating that no one wants to leave this industry and that the ultimate open architecture
model is a great success and has spawned an entire industry which is just beginning. He indicated that Schwab will be launching a financing program to aid junior partners in succession planning.
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Summary: Schwab is launching a client segmentation program to aid advisors in analyzing their clients and grouping them to determine which services to offer each client group with the ability to measure profitability.
