by Patrick M. Kelly | Jun 17, 2011 | Breakaway Brokers, Going Independent
In its newly released white paper, “Options for Independence Tax and Succession Considerations,” Fidelity Investments says that over a 10-year period, RIAs could pocket a much as $21 million more in after-tax income than if they had stayed at a wirehouse. The...
by Patrick M. Kelly | Jun 13, 2011 | Financial Services Industry, Hiring
There was a lot of “buying” of financial advisors and wealth managers in 2008-09 by some of the industry’s biggest firms through retention packages, most in the form of forgivable loans over a period of time. [pullquote] time and changing economic circumstances will...
by Patrick M. Kelly | Jun 10, 2011 | Financial Services Industry, Networking
Here’s a new twist to developing a pipeline of referrals. Organizing a workshop for potential clients is “old hat” and successful results are dependent on the advisor’s effectiveness in his “show and tell” presentation; how knowledgeable he is about the products he’s...
by Patrick M. Kelly | Jun 7, 2011 | Financial Recruiting Industry, Job Market
A Fidelity Investment’s recent survey reported that 75% of Broker-Dealers and RIAs were focused on hiring in the next 12 months, and they plan to boost their staff by an average of 30%. With a U.S. unemployment rate of 9%+, that’s welcome news in the financial...
by Patrick M. Kelly | Jun 3, 2011 | Social Media
We knew it was coming. On May 2, Raymond James Financial and Commonwealth Financial announced they would soon begin allowing their financial advisors to interact with and engage in conversations with others on Facebook, Twitter, LinkedIn and blogs. Instead of “static”...
