Become more knowledgeable on industry topics and best practices.
For years now academics have been questioning the wisdom of offering retirement planning advice based on assumptions put together by theories developed around growing a portfolio (i.e. MPT or others) versus spending within the portfolio. Today we will be discussing the later through a better methodology to retirement planning called Adaptive Distribution Theory as discussed in James Sandidge article published by The Journal of Investment Consulting…read more
There are many things I learned from building a sole practice at a wire-house with about $3 million in annual revenue, to building that practice into a large partnership at a wire-house, moving that practice between wire-houses, then moving to independence where I sold some equity to a Private Equity firm, and eventually transitioning my remaining ownership to the next generation of advisors in my firm that had billings around $10 million a year at my retirement. In reference to Coach Wooden, I did a lot and learned a lot on my way through the challenges that were presented to me. This paper presents the 10 most important items that I learned while moving my practice from a wire-house to independence…read more
What will define the fastest growing advisors over the next ten years: Organic versus Inorganic Growth
So why don’t more advisors pursue inorganic growth. in 2015 89% of the transactions were done by firms who had already completed one or more transactions. Clearly this is saying that experience in this M&A game is important. Firms who are serious about this get that experience by hiring consultants for a while until they learn the M&A business who help them jump start their inorganic growth….read more
So, if we want to be the best, let’s look at what the most successful are doing and where they are headed. As Wayne Gretzky pointed out the key is to go where the puck is going to be not where it is. As a consultant to wire house and independent advisors I get to see the best at work every day. They all have some similar traits but let’s start by defining the best as High Performing Teams…read more