Wealth Managers
Wealth Managers
Wealth Managers
High performing firms should bring 60-70% EBOC (Earnings Before Owner Compensation) and be growing by adding $50 to $100 million in net new assets a year. This can be difficult but it can also be done. We know because we did it and have helped many others achieve like results. We provide our deep experience in the industry to assist your firm in implementing our “real life” solutions from building our own firm with over $10 million in annual billables. Whether that be succession strategies, organic growth strategies or having the ability to stream line operations to reduce expenses and save time we use our own real life experiences to help. Having built a practice at a wire-house, moved from wire-house to wire-house, then moved to independence and spent thousands of hours consulting to others we get to bring all that experience to bare in helping you accomplish your goals.
Registered Independent Advisors
Becoming a high performing firm can be difficult. The tasks at hand for advisors are large in today’s industry. Lumina Consulting is here to help. We provide our deep experience in the industry to assist your firm in implementing our “real life” solutions from building our own firm with over $10 million in annual billables and growing to become a leading financial advisory practice in the country. Whether that be succession strategies, growth strategies or having the ability to stream line operations we use our own real life experiences of having moved from wire-house to wire-house and then to an independence, creating our own marketing plans and building our own platform, to be able provide a unique, creative solution for your firm.
Registered Independent Advisors
Becoming a high performing firm can be difficult. The tasks at hand for advisors are large in today’s industry. Lumina Consulting is here to help. We provide our deep experience in the industry to assist your firm in implementing our “real life” solutions from building our own firm with over $10 million in annual billables and growing to become a leading financial advisory practice in the country. Whether that be succession strategies, growth strategies or having the ability to stream line operations we use our own real life experiences of having moved from wire-house to wire-house and then to an independence, creating our own marketing plans and building our own platform, to be able provide a unique, creative solution for your firm.
Break Away Advisor Services
Breaking away from a large wire-house can be one of the most difficult decisions you face in your career. Not only will you face the decisions such as joining a large aggregator, a platform provider or going it alone but you also must learn which is the best platform, reporting software, billing systems, CRM, accounting software, compliance firms, staffing and everything else that comes with being a large RIA firm. It can be overwhelming for someone who has not been in the independent space and does not have “real life” experience in doing it themselves. At Lumina Consulting we bring our knowledge of transitioning from a wire-house to wire-house and from a wire-house to independence to then running a top RIA practice to you to provide you with all the knowledge we wish we had when doing it ourselves.
Break Away Advisor Services
Breaking away from a large wire-house can be one of the most difficult decisions you face in your career. Not only will you face the decisions such as joining a large aggregator, a platform provider or going it alone but you also must learn which is the best platform, reporting software, billing systems, CRM, accounting software, compliance firms, staffing and everything else that comes with being a large RIA firm. It can be overwhelming for someone who has not been in the independent space and does not have “real life” experience in doing it themselves. At Lumina Consulting we bring our knowledge of transitioning from a wire-house to wire-house and from a wire-house to independence to then running a top RIA practice to you to provide you with all the knowledge we wish we had when doing it ourselves.
Our Core Services
Initial Consultation that covers:
Core value and mission statement development
Owner and Staff interviews for issue recognition
Succession and exit strategy planning.
Operational analysis to stream line efficiency
Marketing and growth plan creation and implementation
Risk analysis for key employee departures, procedures for protecting clients, trading, and reporting
Investment management practice review of performance and policies
Merger and acquisition strategy development
Break-away and transition consulting
Financial due diligence to make sure the firm is stream-lining cost
Profit/Loss statement and proforma creation
On-going project based consulting includes:
Development of a strategic growth plan utilizing the practices we implemented to build our firm and the most successful ones we have seen in the industry
Merger and acquisition consulting based around the development of a sound plan that has a known funding source, a target acquisition and a well thought out operational plan on how to handle your success
Operational transitions to streamline operations and reduce cost structures as well as increase efficiencies utilizing the lessons we learned in our own practice
Investment management reviews to try to maximize your performance, bring consistency to your clients, and reduce overall costs. We use all kinds of solutions from using our experience to find the right asset managers to improve performance, to option overlay strategies to reduce risk, to outsourcing parts of your process to improve overall results and allow you to focus on running and growing your business
Ongoing consulting to the firm’s principles and staff to update plans that were put in place, create well thought out staff development plans, strategies to transition ownership over time, and potential partnerships that will benefit you today and in the future.
