by Kelly O’Mara
Source: RIABiz
When the Oklahoma City-based Burns Advisory Group merged with Dallas-based Executive Financial Group this past fall, it didn’t make sense to combine the two firms’ names into one long new name.
Breakaway Digests
RIAs Are Merging, Then Making Up Names Like Exencial, Syntal, Aspiriant and Private Ocean, But Experts Question The Practice
May 16, 2012 By Leave a Comment
7 Protocol Essentials for Breakaway Brokers
May 16, 2012 By Leave a Comment
BY Gil Weinreich
Source: AdvisorOne
In a recent botched breakaway broker attempt, a team of Merrill Lynch advisors who left for Morgan Stanley last month were caught trying to remove boxes containing confidential customer information.
Top 10 Wealth Zones With Fewest Advisors
May 3, 2012 By Leave a Comment
By Dan Berman
Source: AdvisorOne
There are many ways of looking for the pockets of wealth that dot the country. The IRS and the Census Bureau have data that show it in the typical way. AdvisorOne set out to create a novel look at where the wealth is in the United States and compare it with a snapshot of the number of advisors in each area, which we call AdvisorOne Wealth Zones.
A Talent Shortage Looms As The Industry Booms
May 3, 2012 By Leave a Comment
By Mark Schoeff Jr.
Source: Investment News
The profound demographic trend that is boosting demand for investment advice — the millions of baby boomers retiring or planning their retirement — also is threatening the financial advisory sector with a talent shortage. Even as more and more older Americans seek advice on bolstering their nest eggs, advisers themselves are looking to head off into the sunset.
Will Breakaway Broker Trend Continue In 2012?
April 26, 2012 By Leave a Comment
By Matt Ackermann
Source: On Wall Street
The breakaway broker trend of financial advisors leaving traditional wirehouses for independent waters is just beginning to heat up. “The lead dogs … have gone independent and the next crop of wirehouse advisors is watching them,” Charles “Chip” Roame, of Tiburon Advisors, told an audience of financial executives at the Tiburon CEO Summit XXII.
Firms’ Lack Of Job Description, Career Path Turns Off Recruits
April 26, 2012 By Leave a Comment
By Lavonne Kuykendall
Source: Investment News
Financial advisers may be ready to hire this year, but many aren’t in a position to attract the brightest young candidates, according to a recent survey and participants in a related recruiting round table. According to the fiscal-first-quarter TD Ameritrade Advisor Index, just over half of the RIAs said that they don’t have written job descriptions for the positions in their company, and two-thirds have no defined career paths for new hires.
Advisors At Acquired Firms Must Decide: Stay, Or Go? Here Are Some Tips
April 19, 2012 By Leave a Comment
By Philip Palaveev
Source: Registered Rep
“Should I stay or should I go? If I go there will be trouble! If I stay it will be double!” There is practically no better way to summarize the situation that thousands of advisors face when their broker-dealer is acquired or put for sale than the chorus of this Clash song. In light of the many changes in ownership of independent broker/dealers, there are likely over 3,000 advisors facing that decision today.
Most Advisors Want Independence, But Few Make Jump, Survey Says
April 19, 2012 By Leave a Comment
By Janet Levaux
Source: AdvisorOne
A survey of some 2,500 traditional employee advisors found that more than 70% are considering a move to independence, Diamond Consultants, a recruiting and consulting firm, said last week. Still, experts say, just 10% at most will actually make the move.
Investors Welcome Military Veterans As Financial Advisors
April 12, 2012 By Leave a Comment
By Elizabeth Wine
Source: On Wall Street
Americans want to see the traits of military veterans in their financial advisor, according to the poll of 1,000 Americans taken by Edward Jones. Survey respondents said they liked a lot of what veterans could bring to the table as financial advisors, including discipline (77%), goal-orientation (73%) and integrity (72%). Well over half, 61%, said they would like to work with a veteran to thank him or her for service to the country.
Data Dive: Where Brokers Get A Second Chance
April 12, 2012 By Leave a Comment
By Josh Brown
Source: Registered Rep
Should reps become “untouchable” for getting jammed up by a firm where they didn’t fit in, or for being let go by an unfeeling employer who’d run out of patience with them? Probably not. But it is what it is. To demonstrate how hard it is to get a second chance after a termination, Josh Brown, author and fiancial advisor, digs through the data.
