How Aspiriant knocked out another all-stock deal for an $850-million-AUM firm and why such pure-paper transactions don't grow on trees
Stanford had done its own succession spade work and its principals were willing to become workers in a Deloitte-cultured firm.
Brooke's Note: A billion here, a billion there ... sooner or later you're talking real billions. Aspiriant, with $10 billion or more in AUM, is what roll-ups aspire to be -- an RIA that serially acquires other big RIAs, or even smaller ones, at will. It does so by swapping its stocks for theirs. Read More
Designing an optimal compensation program
The cost and complexity of developing effective compensation programs for advisory firm employees represents an ongoing challenge for firm principals. A successful approach to the issue is to focus on a top-down, strategic approach to compensation rather than bottom-up approach designed at the individual level.
That was the suggestion of IMPACT speaker John Furey of Advisor Growth Strategies, who focused on compensation and equity plans that he believes can drive excellence, not entitlement. Read More
Best Buy founder among outsiders betting on financial advice firms
The demand for advisory firms to grow larger and larger has some reaching out to strange bedfellows for financial support.
Best new compensation plans for advisers
How should firms distribute, determine and design compensation packages for advisers and support staff?
Compensation makes up the single largest cost for RIAs, according Schwab’s most-recent RIA Benchmarking Study, yet many firms do not have a well-defined incentive package in place to reward and retain talent. Read More
Savant Capital Targets $1B Annual AUM Growth
The march towards heightened M&A activity might not be ready to fade anytime soon. But any such mergers and acquisitions frenzy by RIAs, say experts, is likely to be in large part driven by succession planning issues as much as competitive economic pressure.
A prime case in point is a recent move by Savant Capital in Rockford, Ill. The 30-year-old regional giant among wealth managers has used M&A as a growth strategy over the past four years to push assets under management past $5 billion.Read More
How Brent Brodeski 'cut the middleman out' to get a no-strings $50 million for succession nirvana
Brooke's Note: RIAs have proven to be mostly unbeatable because of their ability to evenhandedly quarterback financial challenges on behalf of clients. But when it comes to funding their own futures, RIAs have tended to seek off-the-rack solutions, which, by definition, do not fit all sizes. Keeping control is a big problem and can be a fatal flaw considering that control is at the heart of what makes RIAs not only great businesses but great places for self-actualization. Read More