In a growing advisory practice, particularly one with more than one office, span of control becomes another big challenge. Cultural breaks often occur when satellite offices are not included in the mainstream. It helps to embed culture carriers from the main office into the other locations. Further, most technology solutions for RIAs are not geared to multi-office operations, so firms may need to think about how they will build bridges, links, and processes that can be managed across offices and among many different people. Quality control processes like the review of work papers and recommendations by a detached partner or principle may become even more important to ensure that all business is done consistently and correctly.
Todd Wickwire, promoted from COO, was previously head of U.S. equity research at Wells Fargo for 20 years.
Under Reg BI, brokers have an obligation to mitigate and disclose the kinds of conflicts that revenue sharing can create.
Aite Group's latest paper compares how different financial firms research ESG, select the best companies and educate their clients.
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Cut through the noise and avoid common blunders many FAs make when trying to lure in new clients.
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Outsourcing investment management could be the answer to saving advisors time, improving their client experience, and helping them stand out in a crowded industry. So why are some advisors still reluctant to let go of those tedious day-to-day tasks?
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