It is no secret that in 2015, both the SEC and NASAA plan to issue rules that will require RIAs to implement continuity/succession solutions to protect clients from “key man” risk. We expect the first of the rules to be issued by NASAA in April 2015. This will potentially impact 13,000 state regulated RIAs that…
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…
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…
Much has been written lately about the aging of individuals who own RIA firms and the lack of succession planning that has been done by this group. At 58, I am the poster child for this group of owners and my partners and I at Pinnacle Advisory Group are working on this very issue. Now…
The equity markets are on the rampage with returns unlike those seen in many years. While this is a wonderful experience for those advisors that are fully invested, it is quite precarious to those sitting on the sidelines with more cash than they may normally hold. Yes this market left a lot of folks in…
Much has been written lately about the aging of individuals who own RIA firms and the lack of succession planning that has been done by this group. At 58, I am the poster child for this group of owners and my partners and I at Pinnacle Advisory Group are working on this very issue. Now…
Another year is coming to a close and, with the holidays upon us, we will have the opportunity to share some special moments with family and friends. For business owners, this is also an especially important time to reflect on the past year and make strategic plans for next year. Some of us will have…
We all want to grow our practices. A thriving practice tells us we succeeded (a) in helping clients manage their finances and (b) in building a business that supports our own personal and financial goals. We love our work: it is challenging and fulfilling. Yet our conversations with more than 100 emerging independent advisors around…