#FASuccess Ep 395: The Rise Of Bank Financing To Fund Independent Advisor Acquisitions And Succession Plans, With Dustin Mangone
Kitces
by Michael Kitces
21h ago
Welcome back to the 395th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Dustin Mangone. Dustin is the Director of Investment Advisor Services of PPC LOAN, a firm based in The Woodlands, Texas that facilitates conventional bank loans to financial advisors. What's unique about Dustin, though, is how his firm allows financial advisors to tap into bank lending, an historically challenging source of debt capital for the advisory industry, to finance both RIA and independent broker-dealer transactions from internal succession plans to acquisitions and other growth ..read more
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Evolving From Dysfunctional Team To Advisory Dream Team To Improve Retention And Attract Better-Fit Clients
Kitces
by Michael Kitces
2d ago
Although many advisory firms start out with a single person handling all the work of advising clients, bringing in new business, and managing operations and compliance, there's a limit to how many hours any one person can work, which also means that there's a cap on the amount of client growth a solo advisor can achieve before running up against their capacity limit. The obvious answer to growing beyond the capacity of a single owner/advisor is to build a team of employees (either in advisory and/or other roles like client service or operations) that can accommodate additional room for growth ..read more
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Weekend Reading For Financial Planners (July 20-21)
Kitces
by Adam Van Deusen
5d ago
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Charles Schwab and other brokerage platforms are planning to increase the interest rates they pay on client cash held in their platform or cash sweep programs, which could boost the income of clients who maintain a cash balance in their accounts. Notably, the move could have follow-on effects for the industry in the longer term, including the potential for custodians to start charging RIAs platform fees to compensate for the lost revenue from tightened net interest margi ..read more
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Business Buy-Sell Agreements In The Wake of Connelly V. IRS: Ensuring Clients’ Business Succession Plans Don’t Create Future Estate Tax Issues
Kitces
by Ben Henry-Moreland
1w ago
Buy-sell agreements are a common succession planning tool for business owners where, upon a triggering event like the death of one owner, the surviving owners have either the option or the contractual obligation to purchase the deceased owner's shares of the business. Traditionally, buy-sell agreements are structured either as cross-purchase agreements (where the surviving owners buy the deceased owners' shares directly from their estate) or entity-purchase agreements (where the business itself redeems the deceased owner's shares). The agreements are usually funded by life insurance policies o ..read more
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#FASuccess Ep 394: Launching An Administrative Family Office Practice To Deliver Your Best Support To (HNW) Clients, With Christi Van Rite
Kitces
by Michael Kitces
1w ago
Welcome everyone! Welcome to the 394th episode of the Financial Advisor Success Podcast! My guest on today's podcast is Christi Van Rite. Christi is the Founder of White River Consultants, a firm that provides administrative family office services to 17 ultra-high-net-worth households, and is on track to generate nearly $1.5M in revenue this year from its specialized services. What's unique about Christi, though, is how she evolved her career into providing this type of unique family office service after nearly a decade of working as a more 'traditional' financial advisor, when she realized th ..read more
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4 Ways To Boost Associate Advisors’ Client Confidence And Communication (Without Risking Client Revenue)
Kitces
by Adam Van Deusen
1w ago
Associate financial advisors play an important role within a financial planning firm, for both their work today (e.g., preparing financial plan drafts and notetaking in client meetings) and their potential to become the next generation of lead advisors at the firm. Which means their development (and desire to stay at the firm) can contribute to the firm's long-term health. At the same time, working as an associate advisor can come with frustrations based on the extent (and limits) of their job responsibilities and the freedom granted to them. For instance, because they have relatively less exp ..read more
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Weekend Reading For Financial Planners (July 13-14)
Kitces
by Adam Van Deusen
1w ago
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that at a time when employee retention has heightened importance for advisory firms given the ongoing competition for advisor talent, recent studies indicate that factors such as firm culture and leadership, as well as providing advisors with a sense of autonomy, can play important roles in building advisor loyalty to the firm. Which suggests that while firms might be tempted to zero in on compensation when it comes to retaining advisors, focusing on these other factors (whic ..read more
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Weekend Reading For Financial Planners (July 6-7)
Kitces
by Adam Van Deusen
2w ago
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent U.S. Supreme Court decision shifting authority to interpret laws passed by Congress from Federal agencies to the judicial system could have significant impacts on regulation of the financial advice industry, including the potential for additional legal challenges to regulations from the Securities and Exchange Commission (SEC), the Department of Labor (DoL), and other agencies, with new groups already joining a lawsuit against the DoL's new Retirement Security R ..read more
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Why Quality Factor ETFs Have Seen Large Inflows Over The Last Year – And How Advisors Can Use Them In Client Portfolios
Kitces
by Robert Hum
3w ago
Over the past few decades, technological advances and plummeting transaction costs have facilitated the emergence of a dizzying variety of ways to gain exposure to very specific areas of the market. As a result, advicers have more options than ever to add value for their clients by tailoring investment portfolios that are specific to their unique needs, goals, and risk tolerance. One approach that has become increasingly popular is the use of factor-based ETFs, which are designed around certain shared characteristics of assets that go be–yond the more traditional attributes (e.g., size, indust ..read more
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#FASuccess Ep 392: Crafting Your Specialization When There Is No Standard Playbook To Learn It, With Kristopher Heck
Kitces
by Michael Kitces
3w ago
Welcome everyone! Welcome to the 392nd episode of the Financial Advisor Success Podcast! My guest on today's podcast is Kristopher Heck. Kristopher is a Founding Partner of Tanager Wealth Management, an RIA based in London, England, that oversees approximately $1.1 billion in assets under management (AUM) for 630 client households. What's unique about Kristopher, though, is how his firm has scaled to more than a billion dollars of AUM while specializing in working with clients whose personal and financial lives touch both the United States and the United Kingdom, a niche for which there is no ..read more
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