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,…
It’s amazing to think that in 2023 to date, 16 notable teams left Merrill Lynch for UBS, the sum total of assets approximately $14.3 billion. After touring the US noting they “listened to advisors,” Lindsay Hans and Eric Schimpf continue to come up way short despite the bones thrown to advisors in the 2024 comp…
Effectively managing change requires a delicate balance between the excitement of new opportunities and the apprehension of leaving the familiar behind. At The Gershman Group, we understand that this process involves not only structural adjustments but also emotional considerations. A valuable tool we recommend is creating a comprehensive list of the current situation’s pros and cons…
Alex. Brown, formed in 1800, is the oldest and one of the best investment banks in America – a relatively small house that, while it may have lacked in diversity and reach, the firm more than made up for in service, knowledge, and attention to detail. This boutique nature is one reason why larger Deutsche…
Throughout the day, our schedules are filled with calls and meetings with the top advisors and teams in the US. The natural rhythm of conversation centers around identifying what’s effective and pinpointing pain points. At numerous major wirehouses, we consistently hear the refrain: “The compliance and operations oversight is overwhelming; I can barely compose an…
When advising advisors and teams, a crucial initial step is the evaluation of your true worth or value. Frequently, we tend to underestimate our own value—a challenge rooted in our innate subjectivity towards self-assessment. This is a pivotal factor in what we try to profess with most any advisor – understand the value of your…
Alex Brown advisors and their predecessor firm Deutsche Bank has been a part of my family’s history for decades. Both myself and my father, Norman Gershman, were once advisors who always had high respect for these advisors and consequently, we too have acted as trusted consultants. As the firm now folds into Raymand James, we…
Alex Brown, formed in 1800, is the oldest and one of the best investment banks in America – a relatively small house that, what it lacked in diversity and reach more than made up for in service, knowledge, and attention to detail. That was the boutique firm that Deutsche Bank bought in 1999, and the…
First things first As we converse daily with dozens of Alex Brown advisors, we noticed a recurring subject around uncertainty which would lead to the following question: “What are you seeing other FA’s like me do?” In this survey we set out to answer that question. The Gershman Group conducted an independent survey, anonymous compiling…
The run on First Republic Bank driven by clients’ fears has left financial advisors in quite a quandary. Many advisors are shell shocked by what’s happened and are in a state of confusion about the decision to stay or go. One group clearly has decided to be on the go, some have already departed, and…