The Dating Game: Seeking the Optimal Continuity Partner

Posted by Bette Skandalis

February 14, 2020 at 8:15 AM

Having a continuity partner in your practice is important to ensure continued service, staff involvement in the transition, and financial protection for your family in the event you are unable to participate in the business. Without one, you run the risk of creating service disruptions, staff confusion, and unnecessary family stress. Plus, in the event of permanent disability or death when there isn't a continuity agreement in place, fiduciary accounts are stripped of fees and converted to brokerage accounts immediately. In short order, your revenue stream may significantly decline. Ultimately, for an independent advisor, this disruption of income often results in diminished client retention and a business fire sale.

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Topics: Practice Management

Millennial Clients and Sustainable Investing

Posted by Chris Stuart, CFA

February 11, 2020 at 10:30 AM

Who are the millennials? Using a generally accepted birth range of 1981 to 1996, they vary in age from 24 to 39 this year. According to Pew Research, the group was set to overtake baby boomers in 2019 as the largest generational cohort in America. And, over the next few decades, millennials are expected to be on the receiving end of a $30 trillion wealth transfer from baby boomers.

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Topics: Practice Management, Asset Management & Investing

Valuing an Advisory Practice: Fundamentals to Consider

Posted by Maria Considine King

January 22, 2020 at 1:30 PM

If you’re in the market to buy or sell an advisory practice, valuation concerns are undoubtedly top of mind. Many well-established methods for valuing an advisory practice exist, but they all involve some degree of complexity and subjectivity. And, of course, a value calculation is not necessarily what a buyer will pay or what a seller will accept. Negotiation according to each side’s interest is what determines the price and the terms of the deal.

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Topics: Practice Management

Finding the Right Acquisition Partner for Your Financial Services Firm

Posted by Christine Heuston

January 21, 2020 at 10:00 AM

The one constant in financial services, as in many other industries, is change. And with change comes opportunity. Right now, for example, we’re seeing a record number of advisors participating in some form of a business transition. Whether it’s acquiring a book of business or preparing for the eventual sale of their own practice, M&A activity is something that continues to be a hot topic across all channels of the industry. So, how do you go about finding the right acquisition partner for your financial services firm while continuing to grow your own book of business?

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Topics: Practice Management

5 New Year's Resolutions for Financial Advisors

Posted by Maria Considine King

December 10, 2019 at 10:00 AM

It’s time once more to start thinking about your New Year’s resolution. Most often, people will set goals for personal growth, focusing on ways to improve their physical and mental well-being: eating healthier and exercising more, watching less TV or spending less time on social media, and getting more involved in the community are a few common ones. But what about making resolutions for your business?

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Topics: Practice Management

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