Super-OSJs are not only here to stay for the long term, but some of them may outlast the Broker-Dealers. There is no arguing that these firms are also competing and some are struggling in a margin compressing environment, but like so many other industries, the strongest won't just survive, they will thrive. Read More
"Three former LPL Financial recruiting executives have launched their own firm, aiming to tap their many contacts while helping financial advisors address important questions often overlooked during outreach by prospective employers." Read More
This is an article I wrote which was published in Barron's. This article highlights some of the differences and risks associated with institutional alternative investments vs. alternative investments that market themselves as "institutional quality". Too often we rush through our due diligence based on a sales or marketing presentation. Whether it is related to selecting the right [...]
This article from Think Advisor highlights the shrinking of Broker/Dealers and the expansion of RIAs. The entire industry is doing more fee based advisory business, which is being driven by the DOL. The real question that should be asked isn't is Finra outdated, it is when will Finra start overseeing RIAs? While there are plenty of [...]
I wrote this article to highlight the differences for advisors between how consultants are different than recruiters. In short, a consultant will focus on their clients’ needs, similar to a financial advisor - whereas a recruiter tends to focus more on closing the sale. Read this article to better understand the differences and pros and [...]
Under the right circumstances, Banks can be a great partner or succession plan for an independent advisor or RIA. Unfortunately, not all banks are the same, but those that are progressive in their thinking can be a great partner or succession plan for an independent advisor. Banks have money to spend and are continuously looking [...]
Too often advisors don't ask some of the most critical questions when evaluating a new B/D. Too many times advisors select a B/D based on a "feel" or someone else they know that has experience with the B/D. Changing a B/D can be both time consuming and expensive and making a mistake can really hurt [...]
For the last several years we have repeatedly heard about successful advisors leaving their Broker/Dealer and "breaking away" to become an RIA. There are many different and personal reasons advisors choose to break away. However, there are two benefits that have been applicable to just about everyone. The first has been a higher payout than working [...]
Both RIAs and Broker/Dealers will have the same fiduciary standard when selling investments or making recommendations to clients. This issue dates back to 2010 when Dodd/Frank officially became a law. For those of you who aren't tracking the status of Dodd/Frank, within Dodd/Frank there is a provision for the SEC to develop a single fiduciary standard for [...]
There seems to be a weekly news article about a different Broker/Dealer going through a crisis situation that could have broad implications on their advisors. Whether it is being sold, having large compliance fines or capital restructuring, these events can have far-reaching implications that can affect their advisors and more importantly the way they do [...]
