Sophia Bera Is Not Your Father’s Financial Planner

By Stephanie Sammons (via podcast)


In this interview, I interview Sophia Bera, a Fee-Only CFP® and the founder of Gen Y Planning. She provides comprehensive financial planning to Millennials. In Sophia’s words, she is “not your father’s financial planner.” Sophia Bera has an inspiring story of starting her RIA firm from scratch and she’s done a really impressive job of building a name for herself in the digital age.


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Ten Years Of Myths And Moving

By Mindy Diamond
Source: Wealth Management


On Sept. 1, 2004 the Dow Jones Industrial Average closed at 10,168; Bernie Madoff was still preying on unsuspecting clients in what would turn out to be the largest Ponzi scheme of all time; and my inaugural “Career Moves” column, Of Myths and Moving, appeared in REP. magazine. A lot has happened in the past 10 years. Back then, advisors would tell me to call them back when the deals reached 200 percent of trailing 12-month production (now deals are at 300 percent) …


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Let Your Culture Recruit For You

By Caleb Brown
Source: New Planner Recruiting


Occasionally, when we have a new client come on board, we receive questions regarding how they should structure compensation and benefits, and it usually revolves around salary, incentive bonus, and perhaps health insurance and vacation. When looking at attracting talent, this focus on compensation and benefits can quickly become a Red Ocean of competitive fighting with other firms pursuing the same talent. I suggest instead, pursuing a Blue Ocean strategy of avoiding the competition and creating something new instead – by focusing on and emphasizing culture as a key part of the overall compensation package.


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After Morgan Stanley ‘Raided’ Schwab Branch In San Francisco, Schwab Fought In FINRA ‘Court’ And Lost, But Perhaps Won On The Larger Level

By Lisa Shidler
Source: RIABiz


Even though Charles Schwab & Co. Inc. just lost a public and nasty $15 million FINRA fight with Morgan Stanley over a raid of its financial advisors, it may have shown the ability to use a new weapon in its arsenal: intimidation.


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5 Lessons Learned After One Year Running A Financial Planning Firm

By Mary Beth Storjohann
Source: InvestmentNews


It’s hard to believe it, but my financial planning firm, Workable Wealth, officially turns 1 this week! Just 12 months ago, the website went live after months of prep work and paperwork, and the (virtual) doors opened as I welcomed my first clients to the Workable Wealth family.


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Filling The Income Gap When Starting A New Financial Planning Firm

By Michael Kitces
Source: Nerd’s Eye View blog


Launching a financial planning firm is difficult. Not merely because of the cost and complexities of founding the business, and the challenge of getting new clients, but the opportunity cost of foregone income when you’re trying to build a practice and don’t have enough clients to be sustainable yet. In fact, for most advisors the “income gap” from when a practice is launched until it pays a livable wage can be many times the pure startup costs alone!


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Triad Advisors Targets Smaller Reps With New RIA Platform

Program aims to support hybrid advisors looking to boost business and minimize regulatory headaches
By Janet Levaux
Source: ThinkAdvisor


Triad Advisors said early Tuesday that it launched Triad Hybrid Solutions, an RIA platform aimed at small and midsize independent financial advisors. The new RIA model will be led by Michael C. Bryan.


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Our Human Capital Disaster

By Jon Henschen
Source: Investment Advisor magazine (via ThinkAdvisor)


It may not be news that the advisor community is facing a labor shortage just as demand for professional advice is peaking. What is news is the scale of that shortage, and three overlooked trends are already playing out with the potential to make that shortage a catastrophe.


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Edward Jones To Fund Series 7 Course For College Students

By Emily Zulz
Source: ThinkAdvisor


In an effort to address the increasing concerns of a shortage of financial advisors, Edward Jones announced Thursday its commitment to fund a credit course that prepares students to take the Series 7 exam at 10 universities, starting with Kansas State University this fall.


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Brokers’ Own Accounts Tip Off Firms To A Move

By Mason Braswell
Source: InvestmentNews


Brokerage firms may be monitoring their brokers’ investment accounts for signs that a broker is about to jump ship. Firms have long monitored brokers’ personal trading accounts for signs of suspicious trading activity. But certain behaviors — such as large withdrawals, moving assets into the accounts owned by family members or suddenly liquidating shares in proprietary products — may also suggest that a broker is planning to switch to another firm.


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