Many ask why big firms and RIAs are getting more aggressive in recruiting and the deals they offer. It is a simple supply and demand question – there aren’t enough high-quality advisors to go around despite the fact firms are acting fast and furious to train younger advisors. Consider the stats: A recent Cerulli reports…
As the United States recently celebrated the Fourth of July, the event brings to mind the true meaning of independence and freedom also for financial advisors. The ability to act and think without restraint is a concept that ignites the entrepreneurial imagination of many. However, in the wealth management industry, dominated by big firm culture…
Financial advisors are witnessing a significant shift in the wealth management industry, with many considering or making moves to new firms. In such transitions, one crucial aspect to consider is the valuation of an advisory practice. Recently, eye-catching figures have been thrown around, exemplified by Focus Financial Partners going private for a staggering $7 billion,…
When advisors contemplate a transition to a new firm, their minds are occupied with crucial considerations: the transition deal, deal economics, technology and platform capabilities, brand reputation, autonomy levels, the firm’s commitment to maintaining a stable GRID and fostering a positive culture. Therefore, evaluating a firm for a potential move requires a nuanced and subtle…
Big wirehouses have been buckling down on Reg BI (Best Interests) for years, adding to the already seemingly high compliance and operations oversight advisors experience. Advisors speak about the positive aspects of business at big firms, rather what you’d expect: loyalty to a firm an advisor has been with for years, a team, the clients,…