Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
All Articles
Combining firms reduces costs and spurs collaboration
From InvestmentNews
Added on March 2014 in M&A Issues
1 visitor like this article | Viewed 137 times | 0 comment
Summary: Sandy Johnson's best business decision was to participate in an Ameriprise Financial Inc. experiment 20 years ago that brought individual advisers together to operate as a group practice. Today, her Proviant Group boasts operational efficiencies that would turn both smaller and larger firms green with envy
What Makes a Firm Great?
From Financial Planning
Added on March 2014 in Manage Your Practice
1 visitor like this article | Viewed 88 times | 0 comment
Summary: Goal setting can have a significant impact on your firm's future organization and success. Yet traditional, rational economic theory suggests goals should focus on relatively short-term strategies - specifically, those related to expanding your business in order to make more money. This concept is deeply ingrained in our capitalist system. Business goals that are too narrowly focused, however, or have too short a time frame can create impediments to becoming a great company. How should companies change their decision-making process to propel them to enduring success? Savant Capial Management has some suggestions.
Follow These Tips for a Smoother Succession
From Financial Advisor IQ
Added on March 2014 in Plan for the Future
1 visitor like this article | Viewed 90 times | 0 comment
Summary:When preparing to sell your practice, understand that transitioning from the business will require years of time with no shortcuts. There is a strong correlation between the amount of time one gives to succession and the seller’s satisfaction with the price and outcome of the exit.Don’t let a lapse in time commitment hurt your succession plan and diminish the value of the sweat equity you have accrued.
Wealth Management on Pace to Become Growth Engines for Banks
From Bank Investment Consultant
Added on March 2014 in M&A Issues
1 visitor like this article | Viewed 111 times | 0 comment
Summary: In a study of 140 senior executives, Fidelity Institutional found that more than half (55%) expect to boost revenue from their wealth management practices 25% or more in the next five years. Nearly one-third (31%)— those having made the most progress in developing their wealth management businesses and identified in the report as “pacesetters”—anticipate that wealth management will contribute 35% to total bank revenue in five years’ time.
Overcoming RIAs' Top 4 Business Hurdles: Succession Planning
From Think Advisor
Added on March 2014 in Plan for the Future
1 visitor like this article | Viewed 88 times | 0 comment
Summary: If 2013 was the year financial advisors started thinking about their succession plans, this is the year to start the actual planning. One of the biggest (and possibly most common) missteps in succession planning is procrastination. While the average age of the advisor continues to rise (mid-50s and counting) the competition for talented young planners has become fierce and the idea of M&A seems more and more attractive.
