The Wire https://www.advisorgrowthllc.com/ en A financial-adviser retirement wave that could put trillions of assets in play is kicking into high gear thanks to the pandemic. Here's how firms are tackling the handover crisis. https://www.advisorgrowthllc.com/the-wire/financial-adviser-retirement-wave-could-put-trillions-assets-play-kicking-high-gear-thanks <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> May 12, 2020 </div> <h2 class="title">A financial-adviser retirement wave that could put trillions of assets in play is kicking into high gear thanks to the pandemic. Here&#039;s how firms are tackling the handover crisis.</h2> <div class="body"> <p>The big business of managing money has a retirement problem: there are more financial advisers leaving than there is new blood going in. The coronavirus pandemic isn't helping balance out the equation.</p> <p> As the wealth management industry grapples with its own retirement crisis, the pandemic is pushing advisers to think in a more urgent way about who will one day take over their clients. While that isn't helping to get rookie advisers in the door, it may result in more advisers figuring out their succession plans sooner.</p> </div> <div class="attachment pt-3"> <a href="https://www.businessinsider.com/coronavirus-pandemic-wealth-management-industry-crisis-financial-adviser-retirement-succession-2020-5" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Tue, 12 May 2020 13:43:12 +0000 rachael 623 at https://www.advisorgrowthllc.com Focus performed well in Q1, but Q2 presents a challenge https://www.advisorgrowthllc.com/the-wire/focus-performed-well-q1-q2-presents-challenge <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> May 11, 2020 </div> <h2 class="title">Focus performed well in Q1, but Q2 presents a challenge</h2> <div class="body"> <p>Focus Financial Partners’ earnings report for the first quarter impressed.&nbsp;But a bigger challenge may loom in the second quarter.</p> <p>The&nbsp;<a href="https://citywireusa.com/registered-investment-advisor/news/focus-shares-gain-on-stable-financials-though-manda-slowdown-looms/a1354660?linkSource=article-body">metrics Focus reported</a>&nbsp;on Thursday morning&nbsp;show that the company’s acquisition model — in which it takes a preferential stake in a partner RIA’s earnings — gives itself downside protection. Focus’ revenue in the first quarter of 2020 dropped by just 0.9% sequentially, to $337.1m. That preferential stake means that Focus gets paid first out of its partner firms’ earnings, no matter what market conditions may be.</p> </div> <div class="attachment pt-3"> <a href="https://citywireusa.com/registered-investment-advisor/news/focus-performed-well-in-q1-but-q2-presents-a-challenge/a1355701" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Mon, 11 May 2020 13:42:36 +0000 rachael 622 at https://www.advisorgrowthllc.com Advisor M&A Post-Covid: Winners and Losers https://www.advisorgrowthllc.com/the-wire/advisor-ma-post-covid-winners-and-losers <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> May 4, 2020 </div> <h2 class="title">Advisor M&amp;A Post-Covid: Winners and Losers</h2> <div class="body"> <p>CONSOLIDATION IN THE RIA SPACE has accelerated steadily for the past decade, in part because aging firm principals have sought to cash out and retire. But a good number of owners, enjoying steadily rising assets and revenue courtesy of the long bull market, procrastinated.</p> <p>Those folks “are likely having a lot of regret now,” says David DeVoe, head of the M&amp;A consultancy DeVoe &amp; Co. In short, March’s market plunge was a blunt reminder that firm values can fall as well as rise.</p> </div> <div class="attachment pt-3"> <a href="https://www.barrons.com/articles/advisor-m-a-post-covid-winners-and-losers-51588617871?refsec=things-to-know" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Mon, 04 May 2020 19:04:12 +0000 rachael 617 at https://www.advisorgrowthllc.com Chief executive Ron Carson says he’s more in touch with his leadership group than ever, but adds that people are getting ‘a little worn out’ seven weeks into remote working https://www.advisorgrowthllc.com/the-wire/chief-executive-ron-carson-says-hes-more-touch-his-leadership-group-ever-adds-people-are <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> May 1, 2020 </div> <h2 class="title">Chief executive Ron Carson says he’s more in touch with his leadership group than ever, but adds that people are getting ‘a little worn out’ seven weeks into remote working</h2> <div class="body"> <p>The Covid-19 pandemic prompted advisory firms to shift operations to home offices, ready or not, and has led many firms to rethink how they work.</p> <p>Carson Group chief executive Ron Carson (pictured) said that even with the existing resources and infrastructure to support hundreds of employees across the country, his $12bn firm hasn’t been immune to challenges and change and&nbsp;<a href="https://citywireusa.com/registered-investment-advisor/news/carson-scraps-2020-excell-conference/a1343105?linkSource=article-body">cancelled plans</a>.</p> </div> <div class="attachment pt-3"> <a href="https://citywireusa.com/registered-investment-advisor/news/no-place-to-hide-carson-using-metrics-daily-huddles-to-keep-remote-workers-productive/a1352414" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Fri, 01 May 2020 19:17:39 +0000 rachael 619 at https://www.advisorgrowthllc.com Amid 800-person hiring spree, TD Ameritrade interim CEO Steve-Boyle delivers sparkling results, underscores quick 100% work-at-home transition-- and calls Schwab merger efforts 'critical' and on-schedule https://www.advisorgrowthllc.com/the-wire/amid-800-person-hiring-spree-td-ameritrade-interim-ceo-steve-boyle-delivers-sparkling <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> May 1, 2020 </div> <h2 class="title">Amid 800-person hiring spree, TD Ameritrade interim CEO Steve-Boyle delivers sparkling results, underscores quick 100% work-at-home transition-- and calls Schwab merger efforts &#039;critical&#039; and on-schedule</h2> <div class="body"> <p>The countdown is ticking on TD Ameritrade Holding Corp.'s&nbsp;merger with Charles Schwab Corp., but it hasn't curbed&nbsp;TD's competitive fire&nbsp;-- and its record quarterly results reflect the burn.&nbsp;</p> <p>The Omaha, Neb.&nbsp;firm gathered $45 billion of net new assets --&nbsp;split 58%&nbsp;retail and 42% RIA custody -- despite the&nbsp;COVID-19 pandemic's&nbsp;economic and social dislocation.</p> </div> <div class="attachment pt-3"> <a href="https://riabiz.com/a/2020/5/1/td-ameritrade-interim-ceo-steve-boyle-delivers-sparkling-results-underscores-quick-100-work-at-home-transition-and-calls-schwab-merger-efforts-critical-and-on-schedule" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Fri, 01 May 2020 19:05:30 +0000 rachael 618 at https://www.advisorgrowthllc.com ‘It’s the ultimate reset’: How lockdown can improve UK and US financial planning https://www.advisorgrowthllc.com/the-wire/its-ultimate-reset-how-lockdown-can-improve-uk-and-us-financial-planning <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> April 24, 2020 </div> <h2 class="title">‘It’s the ultimate reset’: How lockdown can improve UK and US financial planning</h2> <div class="body"> <p>In the third and final part of our US and UK financial planning discussion, we take a look at what firms might learn from the lockdown and how they might come out of it stronger.</p> <p>Steps taken to focus on planning and listening seem more prudent than ever, and efforts to distinguish between the value of financial planning, and fluctuations in the markets, seem increasingly worthwhile.</p> </div> <div class="attachment pt-3"> <a href="https://citywireusa.com/registered-investment-advisor/news/it-s-the-ultimate-reset-how-lockdown-can-improve-uk-and-us-financial-planning/a1350239?re=73749&amp;refrefrefea=456766&amp;utm_source=BulkEmail_USA%20RIA%20Weekly&amp;utm_medium=BulkEmail_USA%20RIA%20Weekly&amp;utm_campaign=BulkEmail_USA%20RIA%20Weekly" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Fri, 24 Apr 2020 19:19:17 +0000 rachael 620 at https://www.advisorgrowthllc.com RIA M&A: What's Next in Early 2020? https://www.advisorgrowthllc.com/the-wire/ria-ma-whats-next-early-2020 <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> April 9, 2020 </div> <h2 class="title">RIA M&amp;A: What&#039;s Next in Early 2020?</h2> <div class="body"> <p>Many RIAs are spending time taking care of their clients and employees while assessing the financial impacts of COVID-19. As the industry gets used to working remotely and adjusting to market volatility, new questions about macro RIA trends have surfaced.&nbsp;</p> <p>What will happen to RIA M&amp;A?&nbsp;&nbsp;</p> </div> <div class="attachment pt-3"> <a href="https://www.thinkadvisor.com/2020/04/09/ria-ma-whats-next-in-early-2020/" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Thu, 09 Apr 2020 21:23:15 +0000 rachael 611 at https://www.advisorgrowthllc.com Coronavirus stimulus loans could tempt RIAs https://www.advisorgrowthllc.com/the-wire/coronavirus-stimulus-loans-could-tempt-rias <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> March 31, 2020 </div> <h2 class="title">Coronavirus stimulus loans could tempt RIAs</h2> <div class="body"> <p>Partially forgivable loans from the Small Business Administration (SBA), made available as part of the federal government’s $2tn stimulus designed to blunt the coronavirus’ economic impact, could soon become a standard recommendation for RIAs’ small business owner clients.</p> <p>But could they soon become a useful tool for advisory firms themselves?</p> </div> <div class="attachment pt-3"> <a href="https://citywireusa.com/registered-investment-advisor/news/coronavirus-stimulus-loans-could-tempt-rias/a1342203" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Tue, 31 Mar 2020 17:39:47 +0000 rachael 607 at https://www.advisorgrowthllc.com This may be the time for RIAs to rethink fee models and costs https://www.advisorgrowthllc.com/the-wire/may-be-time-rias-rethink-fee-models-and-costs <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> March 27, 2020 </div> <h2 class="title">This may be the time for RIAs to rethink fee models and costs</h2> <div class="body"> <p>The coronavirus crisis may provide an important opportunity for RIAs to rethink their business models.&nbsp;</p> <p>John Furey (pictured), managing partner of RIA consulting firm Advisor Growth Strategies, said firms facing thinner profit margins should take this opportunity to sort their needs from their ‘nice to haves’ and to reexamine how they operate their businesses and compensate their teams.</p> </div> <div class="attachment pt-3"> <a href="https://citywireusa.com/registered-investment-advisor/news/this-may-be-the-time-for-rias-to-rethink-fee-models-and-costs/a1340767" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Fri, 27 Mar 2020 17:40:42 +0000 rachael 608 at https://www.advisorgrowthllc.com The RIA Profit Margin to Weather a Pandemic's Recession https://www.advisorgrowthllc.com/the-wire/ria-profit-margin-weather-pandemics-recession <div class="node node--type-wire-article node--view-mode-rss ds-1col mb-5 clearfix"> <div class="date"> March 24, 2020 </div> <h2 class="title">The RIA Profit Margin to Weather a Pandemic&#039;s Recession</h2> <div class="body"> <p>Asset-based fee revenue at wealth managers plunged this month alongside the fastest-ever bear market in response to the novel coronavirus. At RIAs with thinner profit margins, that could mean drastically lower compensation and even cost-cutting.</p> <p>In 2018, the median operating profit margin for RIAs managing between $100 million and $250 million was 28.9%, net compensation costs. RIAs that managed more had relatively similar margins ranging between 26.4% and 30%, according to Schwab Advisor Services’ 2019 RIA benchmarking study, its most recent annual report than surveys more than 1,300 firms, which self-report.</p> </div> <div class="attachment pt-3"> <a href="https://www.riaintel.com/article/b1kwzymjkch8gn/the-ria-profit-margin-to-weather-a-pandemic39s-recession" target="_blank" class="btn btn-outline-danger">Read More</a> </div> </div> Tue, 24 Mar 2020 22:35:02 +0000 rachael 604 at https://www.advisorgrowthllc.com