Secrets to Managing Multiple Offices

With the growth of the RIA channel and active M&A environment, many firms are branching out and opening new offices. But how do you manage a business across multiple locations without diminishing firm culture and employee productivity? Employee travel and open communication are key drivers to sustaining a business long-term. “If you look at the …

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Growing Up

AS FIRMS EXPAND, HOW SHOULD THEIR ORGANIZATIONAL STRUCTURES EVOLVE?  By Ed McCarthy The private wealth management business continues to grow rapidly. According to Financial Advisor magazine’s 2014 RIA (registered investment advisor) survey of 529 firms, total asset growth was up 20% in 2013, following 19% growth the previous year. The number of firms managing more …

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Brokerages face exodus as advisers get better deal in indie firms

NEW YORK, Aug 12 (Reuters) –  The four biggest U.S. brokerage firms are facing an exodus of employees who are finding they can make more money and save on taxes by taking their clients and starting an independent firm before they retire. Prices are rising for independent brokers because of demand from investors and other …

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Growing Advisory Firms Learn How to Be Lean

Advisers cut paperwork to make more time for clients, prospects To really grow, a financial advisory business needs to find ways to become more efficient. Those ways often involve new technology and systems to make their expanding ranks of advisers more effective at tending to clients and their money, and bringing in more of both. …

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Advisers Go Extra Lengths to Keep Wealthy Clients

Bill Loftus, one of the founders of LLBH [d/b/a Coastal Bridge Advisors], a high-net-worth advisory firm that is part of Focus Financial, said that a couple of years back his firm engaged in a complicated and lengthy program to protect a client’s $15 million deferred compensation package in case his former employer went bankrupt, the …

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Wall Street Journal

Protecting Deferred Comp with Credit Default Swap

This client had been a senior executive at a Fortune 50 company. During that time, he’d socked $15 million into a nonqualified deferred compensation plan. Now, early in his retirement, he was concerned that the plan was not guaranteed. He was essentially an unsecured creditor of the corporation, and if the company went under, his …

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Dow Jones

Wealth: Munis, The Fed, and a Bottle of Wine – Dow Jones Wealth Advisor

Some advisors say munis make sense for your portfolio. Featuring LLBH d/b/a Coastal Bridge Advisors Partner, Jim Pratt-Heaney. Veronica Dagher reports.