Some custodians and IBDs will require that an advisory firm move its assets off their platform if the firm is acquired or merges with one of the consolidators.
Just about every asset class has been whacked in this year's sell-off, which has pushed firms' AUM values lower, resulting in lower fees and revenues.
New clients are both the key to growth and to insulating a firm's revenues against a declining market.
Even if a prolonged bear market conspires with rising rates and valuations take a hit, the other factors driving M&A will continue to push more sellers into the market than we’ve seen in the past.
The most productive use of an adviser's time is not spending it with current clients, it's attracting new ones.
When the equity markets decline, as they have this year, they take the value of your firm down with them.
Narrowing the clients you work with, as well as the types of products and services offered, allows you to develop a level of expertise within a subset of clients.
The more unique or specialized an adviser's practice is, the less marketable it is to potential buyers.
The impact that market corrections can have on advisory firms' profits makes having the right strategy and doing an exceptional job of implementing it even more important.
One way we decide which new technologies to implement (or at least consider) is by asking our clients to provide detailed feedback on communications every other year.
