There’s been an interesting series of news events already in the new year that reveal some of the continuing trends in the industry that will affect advisors considering a change in affiliation in 2012.
The news that Bank of America is raising its Merrill Lynch brokers’ minimums to $250,000 suggests that the wirehouse is moving upstream while lower-net-worth clients will be served by Merrill Edge. LPL Financial is acquiring Fortigent, the alternative investments TAMP-like company, showing that the largest independent broker-dealer is also encouraging its reps to move upstream while hoping to attract more RIAs to its no-longer-fledgling custodial unit. COR Securities’ purchase of the clearing firm Legent is the latest in a string of private equity investments in the IBD space. Then there’s the increased activity in 2011 of the roll-up like firms such as High Tower, United Capital and Focus Financial.
On Wednesday, Jan. 18, at 4 p.m. Eastern time, AdvisorOne will host a free web seminar that will place these moves into context and present their implications for advisors of all kinds, especially those advisors considering moving from one BD to another or those thinking about going totally independent. Featured speakers on the seminar will be Spenser Segal, CEO of ActiFi, and Dave DeVoe (left), founder and managing partner of David DeVoe & Co., in an hour-long presentation moderated by AdvisorOne Editor Jamie Green.
Using data gathered from the more than 1,000 advisors who have used the Business Evaluator tool on AdvisorOne, developed by Segal (left) and his team at ActiFi, combined with their knowledge of the BD and RIA space, in the web seminar the speakers will present their unique insights into transition trends, but also provide actionable strategies that will allow advisors to not only make informed choices on their affiliation, but also to increase their chances of success regardless of their business model.
Topics to be addressed will include:
- The current state of independent BD recruiting, wirehouse movement and RIA M&A;
- The major practice management steps you can take to improve profitability right now;
- How the stock markets and the human capital markets will change in 2012, and how you can react.