Wirehouses Challenged As Retention Deals Fade

By Mason Braswell
Source: InvestmentNews


The next four years will present a final test of how well major brokerage firms have survived the rapid industry consolidation that followed the financial crisis, as the retention deals from 2008 and 2009 expire.


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No End To Breakaway Frenzy?

By Andrew Welsch
Source: On Wall Street


Anther breakaway wirehouse team, another consulting firm smoothing the way. Last week saw the launch of Encompass Wealth Advisors, a former Morgan Stanley team that managed $650 million. The group made the transition with the help of consulting firm tru Independence, which also used the occasion to announce its own entry into the market for servicing wirehouse advisors going independent. But are there too many businesses catering to breakaways to justify new entrants?


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7 Reasons Your Associate Advisor/Paraplanner May Already Be Looking To Leave

By Michael Kitces and Alan Moore
Source: Nerd’s Eye View blog


In today’s guest blog post, Alan Moore – a “young” Gen Y advisor himself and co-founder of the XY Planning Network that helps young planners develop viable businesses working with their young peers – lays out some of the most common reasons that today’s paraplanners and associate advisors are breaking away from the firms they started with to launch their own instead. And as Alan reveals, the common reasons articulated for why advisors leave really are often driven by firm owners who, in the process of fearing that their advisors might leave, may actually be accelerating the outcome they’re trying to avoid!


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Indie Reps Happier At Work Than Employee Advisers: J.D. Power

By Minda Smiley
Source: InvestmentNews


Independent advisers continue to be happier at work than their colleagues who are employees of broker-dealers but the gap in job satisfaction between the two groups is narrowing.


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Solo RIA: Lessons From Year 1

By Dave Grant
Source: Financial Planning


A little over a year ago, I left a firm of 12 employees and became a “solopreneur” in a fee-only planning practice, branded to focus on teachers, primarily in Illinois. In the six months of planning before my launch and all the way through, I had to learn that any business decision I made could bring joy or heartache, and I would be the one to enjoy or fix it. If a tech problem occurred, it would be me on the phone to tech support. If a client handed me a stack of paperwork, I would be clearing my afternoon to ensure it was organized and scanned.


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Top U.S. Securities Brokers Changing Jobs Less Often As Market Recovers

By Elizabeth Dilts
Source: Reuters


After years of jumping from one firm to another, U.S. securities brokers are changing jobs less frequently and the largest brokerage firms say they are seeing their lowest attrition rates in years as financial markets strengthen.


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Can You Start An RIA With No Prior Experience?

By Chris Latham
Source: Financial Advisor IQ


Shortly after leaving the Army in 1973, David Diesslin got a job as a packing-division manager for popcorn king Orville Redenbacher. A few years later he was working in warehouse distribution at Abbott Laboratories. Later he became a real estate broker. He had been interested in investing since childhood, eventually taking care of his father’s money as well as his own. But it wasn’t until 1980 that he became a professional advisor — by opening a solo practice in Fort Worth, Texas.


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The Engineer

By Diana Britton
Source: Wealth Management


Craig Stuvland formed his company to “fan the flame of independence” in the financial services space. He saw a need to help investment advisors and wealth managers with assets anywhere from $300 million to $1 billion go into business for themselves. In his model, called tru Independence, advisors keep 100 percent equity in their firm, relying on Stuvland for financing, consulting, branding, real estate, vendors, public relations, compliance, etc.


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Top 10 Metro Areas With Highest Pay For Advisors: 2014

Some Metro Regions With High Pay Are Off The Beaten Path
By Dan Berman
Source: ThinkAdvisor


There are many factors that go into the decision of where financial advisors should ply their trade. Two years ago, ThinkAdvisor looked at the metropolitan areas in which advisors are paid the most. Now it’s time to update the info with the latest data from the Bureau of Labor Statistics. Here are the Top 10 Metro Areas With Highest Pay for Advisors: 2014.


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Five Ways To Expand Ranks Of Female Independent Advisors Through Mentoring Programs

By Marissa Fox-Foley
Source: Wealth Management


In a special closed door session at the First Allied Securities national annual conference in San Diego this week, I met with a diverse group of female independent financial advisors. Some of these advisors were in the early phases of building their own independent businesses, while others have been established for a number of years now.


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