Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
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RIAs Increase Compliance Staff, Training
Added on July 2014 in Form an RIA
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Summary: RIA firms continue to increase their investment in compliance, boosting the number of dedicated staff and overall employee training, according to a recent survey. The number of RIA firms employing six or more employees focused on compliance jumped from 16 percent to 18 percent over the past year, according to the 2014 Investment Management Compliance Testing Survey.
Letting Go of Less-Than-Ideal Clients
Added on July 2014 in Form an RIA
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Summary: Some advisors hold onto clients that they consciously know are bad for them instead of taking one bold step that could improve the quality of their business. The challenge of letting go is tough for some people especially if they see their business situation as not so great but are more afraid of the unknown. It’s been said that the unknown is where your professional potential lies and that choosing the discomfort of change will reveal to you a whole new world of possibilities.
39 Great Ways to Improve Your Practice
Added on July 2014 in Form an RIA
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Summary: Get smarter about communicating with existing clients — and attracting new ones. Sharpen your overall business strategies, and improve your social media presence.No matter how successful an advisor becomes, there are always ways to hone a firm’s practices to reach more clients and improve profitability. We scoured Financial Planning’s many Web-only features, blogs and videos to find the best ideas our readers might have missed.
The Engineer
Added on July 2014 in Form an RIA
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Summary: How Brian Hamburger became the man behind the curtain in almost every major breakaway deal and helped define the industry. Over the past decade, Hamburger has been the architect behind almost all of the highest-profile breakaway deals in the industry, helping countless advisors transition away from brokerage houses and toward independent business models.
How to succeed in (the) business: 5 tips from top wealth managers
Added on June 2014 in Form an RIA
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Summary: The generation of entrepreneurs who hung out their shingles as fee-based financial advisors in the 1980s and '90s had a wide-open market opportunity. The simple idea of charging a fee and not being paid based on the actions or products you recommend was a novel concept in the retail investment market, and it has paid off in spades. We asked leaders of some of the top fee-based wealth management firms in the country for advice to would-be entrepreneurs in the advisory industry. Their five suggestions follow.
