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, Pricing Your Business

Offering Freedom of Choice: The Value of Hybrid Advice

Posted by Patrick Sarne

October 31, 2018 at 1:30 PM

As the landscape of our financial industry evolves, we’re seeing an emerging trend that involves a deeper collaboration between clients and their financial advisors. This hybrid advice model can be defined as the combination of two components: a do-it-yourself attitude and professional guidance. It includes offering freedom of choice, which gives clients options that can be tailored to their specific needs, therefore granting them a higher level of service and satisfaction.

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Topics: Pricing Your Business

5 Steps to Navigating the Fee Conversation with Clients

Posted by Brian Lampron, AIF

August 28, 2018 at 10:00 AM

Have you ever had a client question your practice’s advisory fee and been unsure how to respond? If so, you’re certainly not alone. In fact, for many advisors, navigating the fee conversation with clients can be surprisingly difficult, regardless of whether you’re implementing a new advisory fee schedule or announcing changes to an existing fee structure. How can you address the topic of fees in a clear, genuine way that puts your clients’ concerns to rest? Below, I’ll share some simple steps to help you talk about fees with ease and use the conversation as an opportunity to reinforce the value you provide.

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Topics: Pricing Your Business

Finding Your Fee: How to Price Wealth Management Services

Posted by Brian Lampron, AIF

November 8, 2016 at 10:00 AM

Given changing regulations and increased competition from both robo-advisors and enterprise firms, investment management fees continue to come under pressure. As a result, many of you may be charging—or considering charging—fees for wealth management services. Should you base this decision on what your peers are charging? If you do, you may find yourself on the lower end of the totem pole, even if your services are “worth” more.

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Topics: Pricing Your Business

The Rise of the Robo-Advisor: Threat or Opportunity?

Posted by Greg Gohr, AIF

October 6, 2015 at 10:00 AM

Unless you've been on an extended sabbatical for the last couple of years or unsubscribed from all industry-related electronic media, you've probably heard about the "new, new" thing in retail financial services: the rise of the robo-advisor. The term robo-advisor is everywhere, as the industry press provides almost daily robo-updates and the financial services cognoscenti opine ad nauseam on the topic. But is the robo-advisor phenomenon just another evolution in delivering retail investment solutions, or is it a real game changer, poised to upend an entire industry by forever altering how clients obtain and pay for investment advice?

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Topics: Pricing Your Business, Asset Management & Investing

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