Blog

Navigating the Transition Planning Process

August 15, 2018

Once planning for the “what ifs” is handled, it’s time to consider other future events. If an advisor’s primary goal is to continue working as long as possible, transition planning may be more appropriate than succession planning, which is often integral to the planning and preparation for a practice sale. In fact, one can view […]

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Contingency and Transition Planning

August 3, 2018

Advisors whose primary objective is to continue working as long as possible — perhaps at a somewhat lesser pace while maintaining their lifestyle — are likely to benefit from having contingency and transition plans in place. In a sense, having such plans are like creating an insurance policy and an income annuity for the practice. […]

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Why the Reluctance Toward Succession Planning?

July 27, 2018

When asked why they don’t have a succession plan or why they have not made more of an effort to develop one, many advisors will explain — often almost sheepishly — that they are just too busy to get around to doing one, or that they’ve started to develop a plan on several occasions and […]

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Effective Business Practices to Achieve Client Satisfaction

July 20, 2018

As the financial advice business becomes less about products and more about service, the ability to deliver a wide range of financial services efficiently has become the key to the business’ profitability. Running an advisory business effectively and efficiently, therefore, is more important than ever, with the administrative functioning of the operation central to its […]

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Training and Empowering New Employees

July 13, 2018

For many advisors, there is no need to start an extensive search to find the right support advisor or administrative assistant. That person may already exist in the form of the registered assistant or other assistant already working for the advisor in a job that has a large administrative component. To reap the full benefits […]

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How and Where to Find Suitable Candidates when Hiring

July 5, 2018

Once a job description is completed, looking for the skills and personality attributes to fulfill the job’s requirements effectively becomes the key task. Since interviewing and hiring personnel may not be an advisor’s strong suit, he or she may find it helpful to ask for assistance from the firm’s broker/dealer in reviewing the completed job […]

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Making the Right Hiring Decisions: Job Descriptions

June 28, 2018

For advisors who don’t currently employ an assistant who does some of the higher-level administrative work previously alluded to, hiring such a support advisor or assistant can be nerve-wracking. Not only are many advisors unsure of the precise nature of the work such a new hire will actually perform, they often aren’t sure what kind […]

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Message from Art Grant: Brokers or Advisors – To Be or Not to Be?

June 27, 2018

After a few other jobs in the investment business, I joined Sanford C. Bernstein & Co. Inc. in 1970. At the time, the company only had about 15 employees (today, they are Alliance Bernstein and they have thousands of employees). Initially I worked in administrative and compliance functions, but when the horrible bear market of […]

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This article is part of the 2nd Quarter, 2018 Newsletter.


Starting the Retirement Income Planning Conversation

June 27, 2018

Advisors should have important discussions with their clients regarding their retirement income and spending, as the numbers essentially become a reflection of lifestyle choices and expectations. If travel is high on the retirement wish list, for example, advisor-client discussions about spending priorities can be helpful in making sure that there are adequate for this pursuit […]

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This article is part of the 2nd Quarter, 2018 Newsletter.


Overcoming the Challenge of Capacity Limits

June 19, 2018

Nearly 90% of firms participating in a recent InvestmentNews Compensation and Staffing Study reported that they are at or near capacity—and may not be able to add new clients as a result. This has led to a slowdown in growth across the industry. In 2016, for example, median revenue at independent firms grew at a […]

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