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Acquired Clients are Coming to Your First Meeting with 1 of 3 Viewpoints

  • On October 8, 2017
When a newly acquired client is driving to your office to meet with you for the first time, what point of view will they be bringing to the meeting? The clients you have acquired are typically going to have one of three different types of viewpoints about the seller you’re “taking over” for. Your new […]
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Breakaway Advisors Don’t Have to be Entrepreneurial to be Independent

  • On October 8, 2017
The breakaway movement to independence is an industry mega-trend, but there are many traditional advisors at wirehouse and regional firms who wince at the thought of the responsibilities and time required to be an owner and CEO of their own firm. Statistics and survey results vary, but independent practice principals can spend 40% to 60% […]
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Client Acquisition Transition & Retention Plan Variables

  • On October 8, 2017
You went through a lot of time and effort to acquire a practice. Congratulations, take a moment to exhale, take another deep breath, and now the real work begins. The goal of any acquisition is a successful transition and retention of the acquired clients. It’s of course the client relationships you got a loan to […]
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RIA Industry, Assets, and M&A Activity Dominated by $1 Billion+ RIAs

  • On October 8, 2017
The RIA model continues to see growth in advisor headcount while other models like the wirehouse, have seen declines. While many of the traditional advisors we speak with are interested in exploring the RIA model the research shows that the real benefits, growth, and M&A activity in the RIA space is dominated by $1 Billion […]
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8 Client Acquisition Retention Cautions

  • On October 8, 2017
Not all practices are going to be ideal to pursue or purchase. Sometimes the best acquisition you make is the one you didn’t. While growth through acquisitions is the fastest path to rapid growth, each practice is unique and not all buyers and sellers are the right match. In advisory M&A, there is a lot […]
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The Critical First Impression with Acquired Clients

  • On October 2, 2017
The significance of nailing the first impression is well known amongst most Financial Advisors. The advisors that make great first impressions have more success than the advisors who don’t try as hard. Nailing the first impression with acquired clients is more important than the typical client meeting. Why?  Because you paid for the meeting with […]
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First Impressions Matter: An Experimental Investigation of Online Financial Advice

  • On October 2, 2017
An online video experiment with over 1,000 Australian “potential clients” viewed actors giving financial advice. While this wasn’t an American consumer experiment and it was through online video instead of in person meetings, the findings are worth consideration. The results confirmed that “first impressions” matter and influence potential client decisions to follow an advisor. The […]
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State of the Wealth Management Industry 2017

  • On October 2, 2017
Fidelity recently released a report on their perspectives of the State of the Wealth Management Industry 2017: The New Value Drivers. Perspectives provided by Sanjiv Mirchandani, President, Fidelity Clearing & Custody Solutions. Highlights: What industry will look like in 2026 Two kinds of opportunities to be successful: Large player with greater scale Focused player with […]
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Borrowing from or Lending to Clients?

  • On October 2, 2017
FINRA has new Sanction Guidelines FINRA has published Regulatory Notice 17-13 introducing three new Sanction Guidelines: Systemic Supervisory Failures, Short Interest Reporting, and Borrowing From or Lending to Customers. The summary of the new sanction guidelines from FINRA: Borrowing From or Lending to Customers: There are large numbers of litigated and settled cases involving borrowing and lending arrangements between […]
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