From SEI Advisor Network
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Summary: My job gets me out of the office on a regular basis, visiting strategic partners and attending conferences. One of the things I love is meeting the people in our industry. Advisors on the whole are entrepreneurs and as such, have to have big personalities and the drive to survive. Therefore, those who service and advise them have to be the same. In today’s blog post, I have a discussion with a man who clearly fits this description: Michael Kitces.
From wealthmanagement.com
Added on July 2014 in M&A Issues
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Summary: Boston Private Bank, a subsidiary of Boston Private Financial Holdings, on Wednesday acquired Florida-based Banyan Partners in a $60 million cash and stock deal.Wednesday’s deal adds more than $25 million of annual fee-based revenue and the combined operation will have approximately $9 billion in client assets under management and advisement, making it one of the largest wealth management companies in the U.S., according to Clayton G. Deutsch, CEO and President of BPFH.
From Reuters
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Summary: Headhunters and industry specialists say fewer advisers move on holiday weekends now, in part because a 2004 protocol prevents firms from seeking temporary restraining orders, and also because brokers and firms don't want to interrupt clients while they are enjoying those long breaks..
From InvestmentNews
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Summary: For the second of a series of special reports on the Crossroads the financial advice business is facing, InvestmentNews asked the industry's top practice management experts one question: How will running a financial advisory practice be different in five to 10 years?
From wealthmanagement.com
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Summary: An overwhelming majority (80 percent) of firms said gaining new clients through business and existing client referrals was their top strategy to spur growth this year, according to the more than 1,100 advisory firms that participated in Schwab’s 2014 RIA Benchmarking Study
