Make Your Next Move Matter

By Danny Sarch
Source: Financial Planning

 

Unhappy where you are or just curious about the choices out there for you? I hear from advisors on both fronts, who say they get recruited constantly. Not every firm, however, is the best choice for every advisor. Here is a starting point for figuring it out.

 

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Recruiting Problem: Gen Y Thinks You’re A ‘Wolf Of Wall Street’

By Andrew Welsch
Source: Financial Planning

 

NEW YORK – Gordon Gekko. “The Wolf of Wall Street.” When millennials look at the industry, that’s who they see, not a planner helping clients achieve their dreams, wealth management executives say. Goals-based wealth management? Millennials have never heard of it.

 

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Independent No More: Why These Advisors Switched

By Andrew Welsch
Source: Financial Planning

 

Advisor Marta Shen found that her practice had become more demanding, depriving her of time with both clients and her two small kids. So the Atlanta-based independent advisor made a rare move: She moved to the employee channel.

 

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Nine Ways To Evaluate An IBD

By Mindy Diamond
Source: WealthManagement.com

 

The independent broker/dealer model can be an ideal option for an advisor who comes from an employee environment, wants more flexibility and control, likes the idea of supported independence and does some or a lot of commission business. But one of the biggest concerns among advisors considering the IBD route is how to choose a firm.

 

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11 Steps To Successful Time Management For Solo Practitioners

By Mike Patton
Source: ThinkAdvisor

 

One of the most challenging issues for a solo practitioner of a wealth management firm is managing the numerous tasks that must be completed on a regular basis. In a small company, the responsibility for defining, delegating and completing each task rests squarely on the shoulders of one or two individuals. Given the limited number of hours in the workday and the number of tasks that must be addressed, effective time management becomes extremely important. In this post, we’ll look at some of the inherent challenges faced by small firms and discuss a framework by which you may be able to manage this process.

 

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What Draws Women Advisers To Certain IBDs

By Liz Skinner
Source: InvestmentNews

 

Some independent broker-dealers are finding extraordinary success in the industry’s efforts to level the ranks of male and female advisers, even though on average less than one out of every five advisers today is a woman. Transamerica Financial Advisors boasts about 33% female advisers, compared with an industry average of 18%, according to data collected from 41 independent broker-dealers by InvestmentNews for its 2015 special report on independent broker-dealers.

 

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10 Young Advisors To Watch

By Eric Rasmussen
Source: Financial Advisor

 

According to a report by Cerulli Associates last year, only 11% of advisors at RIAs are under the age of 35, and almost half (47%) of advisors at these firms are over 55. That explains why the current generation of leaders in the profession continues to wring their hands over the scarcity of new advisors, prompting some to view it as a crisis.

 

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Evaluating Young Financial Planners

By Caleb Brown
Source: Investment Advisor magazine (via ThinkAdvisor)

 

Earlier this spring, I visited four CFP Board-registered university programs to ensure we are sourcing the best available talent for the firms we represent. I was scheduled to visit a fifth school as well, but the talent pool was so severely picked over I had to cancel my visit.

 

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Raymond James Launches New Diversity Push, This Time For Black Advisors

By Andrew Welsch
Source: Financial Planning

 

The wealth management industry has long been characterized by a lack of diversity. Now a group of advisors and branch managers at Raymond James aim to rectify that. The group has launched a Black Financial Advisors Network at the firm, with the goal attracting minorities to the business while also retaining and supporting existing minority advisors.

 

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An Overlooked Benefit Of Going Independent: Quality Of Life

By Jonathan Henschen of Henschen and Associates
Source: ThinkAdvisor

 

In a recent article in Financial Advisor IQ, two reps that left Morgan Stanley, Brian Luts and David Greenleigh, discussed the benefits of moving from the wirehouse to Wells Fargo’s independent arm (FINET). “Our operating margins are still significantly better than when we worked as employees,” according to Luts, who also commented that he’s now netting about 70%.

 

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