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Summary: Markets are going well, and commission and fee rates are still at the high end of the scale, and there are still plenty of consumers using advisers really, and a lot the anticipated regulatory bite hasn’t really hit home for most practitioners….
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Summary: A performance management process is best when it links execution to compensation. That, in turn, encourages employee engagement.
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Summary: Succession planning involves more than valuations and buy-sell agreements. Given all the blood, sweat, and tears you’ve put into your business, you don’t want to risk passing it to the wrong person—someone who doesn’t care for your clients the same way you do or who doesn’t value the staff who have supported you for years. But is it best to choose an internal or an external successor? There are pros and cons to each option.
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Summary: Most recently, an executive order was signed to halt the April 10th implementation of the Department of Labor fiduciary rule. Lawmakers are likely to continue the debate, as advocates endorse the benefits to consumers, while opponents look to revise certain provisions or repeal the ruling entirely.
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Summary: Advisors’ life work centers on helping others prepare for the future, so it is surprising how often they fail to plan their own with a detailed succession plan. It is, of course, difficult to picture client relationships nurtured and grown for decades being placed in the hands of someone else. It is likewise all too easy to put off these difficult decisions to some other day down the road.
