From Financial Plalnning Magazine
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Summary: At Fidelity’s workshop, Realizing the Value in Your Firm, Fidelity takes a holistic approach to getting advisors to think about succession. They encourage the advisor to lift their gaze above their present practice and envision their life after their practice has transitioned. With a point on the horizon to head towards, Fidelity guides the advisors through the practice management steps towards succession planning.
From RIA Match
Added on March 2013 in M&A Issues
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From Advisor One
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Summary: Attorney Patrick Burns warns advisors to adhere to the Protocol for Broker Recruiting. He provides 7 steps to follow and tells the cautionary tale of a couple of Merrill brokers who were served with a temporary restraining order. They were caught on video taking files from their office the weekend before their departure.
From Investment News
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Summary: At the National Association of Personal Financial Advisor’s conference in Chicago, a panel convened to discuss selling a business to a junior partner. Nearly every one of the 100 or so in the audience said they would like to buy or sell. The panel discussed their challenges and successes of internal succession.
From Investment News
Added on April 2012 in Other Ideas
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Summary: The profound demographic trend that is boosting demand for investment advice — the millions of baby boomers retiring or planning their retirement — also is threatening the financial advisory sector with a talent shortage.
A 2011 survey by Cerulli Associates Inc. showed that 22% of advisers were below 40 and only 5% were younger than 30. The average age of advisers was 49.6, up one year from 2010. The average for wirehouse advisers was 50.6.
