July 1, 2013

An Argument for Study Groups; 2013 TechLeaders Survey: July Investment Advisor—Slideshow

In the July issue of Investment Advisor, we take on succession planning and study groups. Tom Giachetti, securities chairman for law firm Stark & Stark, has called study groups “a bunch of people sitting around convincing each other that they’re right.” A group borne out of the Financial Planning Association’s NexGen community, though, has provided major support, personally and professionally, for its members.

Following last year’s TechLeaders survey, Beacon Strategies took another look at the state of broker-dealers’ technology planning. The firm surveyed major independent and insurance broker-dealers to find out what they’re working on now, what they expect for the future and what’s changed since last year.

Succession Planning for an Entire Industry: Why Study Groups Are CriticalSuccession Planning for an Entire Industry: Why Study Groups Are Critical

Study groups have had a lot of flak lately, but one group that arose out of the FPA’s NexGen community shows that they can be valuable. “Seven of our 10 members have experienced major personal and professional transitions during the time frame of the group’s existence,” Mike Anderson, the advisor and de facto head of that group, told Editor-in-Chief John Sullivan. “Imagine our meeting after 2008; tears were definitely shed. But the body of knowledge this group possesses is immeasurable.”

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Three Is NOT a Crowd in the Cloud: The 2013 TechLeaders SurveyThree Is NOT a Crowd in the Cloud: The 2013 TechLeaders Survey

What initiatives and priorities are broker-dealers focusing on? How are their relationships with their solution providers? The 2013 TechLeaders survey from Beacon Strategies answers these questions. The firm surveyed major independent and insurance broker-dealers in the United States to monitor significant trends in the industry, as well as important changes in priorities, vendor relationships and resource allocations over time.

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