Category Archive for: ‘From the Corner Office’

The Practical Math of Succession

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The math is simple. The longer an advisor can postpone a sale, the more cash is put in his/her pocket. Whether the sale happens today or five years down the road, the sale proceeds will always be there. In the meantime, an advisor can bank additional income. Indeed, an advisor may be better off waiting (from an economic standpoint) if …

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What Advisors Think About Succession Planning in 6 Bullet Points

The topic of continuity/succession planning is on everyone’s minds these days. Aggregators see an opportunity to acquire additional assets.  Young advisors see an opportunity to grow their firms. Custodians want to ensure those assets remain in their custody despite any change of control. Pinnacle Advisor Solutions is in business to support the independent RIA, so our goal is to enable …

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Don’t Sell Your Practice, Redesign It! – Three Stories From the Field

Don’t Sell Your Firm, Redesign It! is one of our most read articles to date. In fact, advisors continue to download this article four months following its publication. The reason? It strikes a chord. Advisors are getting older. They do not have a continuity or succession plan. And they are considering alternatives. While they review these alternatives, the decision is consistently …

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Eight Advisor Stories That Demand a Better Continuity Solution

Clients need one.  Your family needs one.  Regulators increasingly want you to have one.  Surprisingly advisors have always wanted one.  Have you guessed it?  Yes.  A continuity/succession plan.  What is perhaps more interesting is that advisors are finally ready to address it.  This week we thought we’d share with you the types of conversations we are having with advisors all …

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As Markets Embark On A Bumpy Ride in 2014, Do You Possess the Time and Resources To Do More Than Sound Smart?

This is the season to impress. Money managers will try to sound smart by predicting what the year ahead has in store for investors. Inevitably they will get some things right and some things wrong – a fact that underlies the need for daily diligence. Indeed, successful money managers are often only modestly more right than wrong over time. The …

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Give Yourself a Gift This Holiday Season … Learn Where the Money is in Your Business

This is the time of year we take stock of our accomplishments and begin to think about our New Year’s resolutions. We ask independent advisors to review their 2013 plans to see what worked and what didn’t and then to draw up a new plan for 2014. This may be a less necessary exercise at a wirehouse where your goals …

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Don’t Let Time Be Your Enemy – Take a Moment and Let These Questions Drive Your Business

Time passes quickly. Indeed, it seems to pass faster every year. Think back. What goals did you have in mind when you launched your practice five, ten, fifteen or even twenty years ago? Some of you will have succeeded beyond expectations. Others will wonder where the years went and will be disappointed with their progress. Why isn’t everyone successful? One …

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Succession Planning: Addressing the “Truck Question”

Business continuity planning and succession planning are hot topics in the wealth management community.  Indeed, Pinnacle Advisor Solutions is regularly fielding calls from advisors about its continuity planning solution named PRISM (Pinnacle Revocable Institutional Success Model).  Our conversations typically focus on protecting clients and family.  We recently learned of a third reason to pay attention: regulators have indicated they will …

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Don’t Sell Your Practice, Redesign It!

A great deal has been written about succession planning over the last two years.  Most of it focused on selling your practice to either a younger version of yourself or merging into a larger firm and transitioning your clients over a period of time.  Clearly they are options, but they may not be the best options.  We believe you are …

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How Outsourcing Could Save RIAs From Extinction

There is an awful lot of discussion about consolidation these days.  Aging advisors have failed to implement continuity and/or succession plans which means they will eventually sell.  Emerging advisors do not have the scale necessary to compete in an increasingly complex and competitive landscape so they will eventually sell.  Compliance is too complex and time consuming for a small firm …

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