For over half a century, The Gershman Group has partnered with advisors, guiding them to assess their practices and find the optimal fit. In the past decade, the perennial question has persisted: stick with the established wirehouses or embrace independence. Much like in investing, life demands a careful weighing of risks against rewards. While maximizing…
In today’s podcast, they discuss the employment and retention contracts presented to First Republic Advisors by JPMorgan and the points they should be aware of when reviewing these documents. Meet Rogge Dunn: Rogge Dunn handles employment, partnerships, FINRA, class actions, arbitration, defamation, privacy issues, shareholder oppression, “business divorce,” non-competes, trade secrets, whistleblowing, and significant personal…
No doubt it has been a brutal six-week journey for First Republic advisors. Advisors may think they should be rewarded for their loyalty in staying the course when other colleagues fled early. The path of least resistance has certainly been to stay put, however, in doing so, advisors face changes in compensation, more bureaucracy, less…
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…
Meet Roger: Having spent twenty-five years himself as a financial advisor at Hambrecht & Quist, UBS PWM, and Credit Suisse, Mr. Gershman brings a unique perspective to the recruiting and consulting world of financial advisors. With this real-life experience, he now runs the family consulting firm his father founded 40 years ago who also was…
Roger Gershman here again for a three minute drill and landscape update on our beloved industry. Seeing it from your eyes, A really great week for Wall Street what Goldman Sachs announced layoffs. Well, the last bastion of profitability at the bank is the private wealth division. Very surprisingly, they’ve laid off several producers…
Roger Gershman here, with a three minute drill on the state of affairs of the markets, today’s podcast is, why not just leave for the check. And that’s what many advisors tell me, Oh, that advisor left for the check, or they leave for the check. And they have not as much of an…
The Penalty Box – financial advisors are opting to escape the big four wire houses now before it is too late. There have been a record number of top financial advisor teams leaving the big four wire houses for boutique firms or going fully independent themselves. This trend is occurring for a variety of reasons…
On September 27, 2022 the SEC charged 15 broker dealers and one affiliated investment advisor over $1.1 billion in fines due to failure to keep appropriate records. This time, the focal point was text messaging, normally bundled with a more significant offense, but this time, a stand-alone. As an advisor, how many times have you…
Today’s podcast is about the value of independence. And why seriously consider going in the banks and brokerage firms have become a real thorn in advisor sides. They’re more interested in shareholder value, they’re more interested in compliance are more interested in legal, and they’re interested in the lowest common denominator of the financial…