The flexibility custodians provide advisors are forcing OSJs to explore starting their own RIA to remain competitive. As OSJs look to add advisors, they need to provide more resources and flexibility to attract advisors and differentiate themselves. Being a hybrid firm with their own RIA is becoming one of those differentiators for firms. Read [...]
The need to recruit new advisors, fueled by the insatiable appetites for growth of private equity firms who own BDs and RIAs as well as the short term focus of publicly traded companies is going to heat up the recruiting wars and money available for the rest of the year. Read More
There is an expression we all know, "the cobblers kids have no shoes". The metaphor implies cobblers are too busy helping their clients instead of themselves. This can often be true of advisors as we see statistics in the industry supporting that theory, such as majority of advisors that don't have a succession plan or [...]
Increasingly advisors are evaluating becoming their own RIA and the risks and rewards of doing so. This trend has created a new segment of firms for advisors to evaluate. Hybrid-Super-OSjs, these firms can provide the scale that includes more affordable compliance and technology as well as a multi-custodial platform which advisors are seeking. Some of [...]
The recruiting wars are here. It was just a matter of time before it happened to the Independent BD and RIA space. With so much money being invested by private equity firms into IBDs and RIAs, we were going to inevitably have recruiting wars that was going to drive up deal prices. The one thing [...]
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
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 [...]
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 [...]
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 [...]
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 [...]
