Research magazine’s June cover story, “Exploring Independence,” looks at how ex-wirehouse advisors are finding that having a distinctive niche can be the key to a successful advisory practice.
Sometimes that means taking a very different tack from your earlier career. Independent advisor Brian Solik, for instance, describes himself as a “former Wall Street broker” and emphasizes that his services can help clients protect themselves from Wall Street and the IRS.
In “Six Conversations You Need to Have,” experts weigh in on the most crucial subjects of advisor-client discussions. Areas covered range from the client’s overall financial picture, to the type of relationship a client wants, to how to prepare for the possibility of a major market decline.
Some other highlights of the June issue: an assessment of the opportunities and risks in the shale gas boom; the final installment of Moshe Milevsky’s important new book The 7 Most Important Equations for Your Retirement; and columnist Bill Good’s advice on how to avoid the worst mistakes in seminar marketing.
Click through the following slides to preview the June issue of Research magazine.
“For a lot of former brokers,” writes Contributing Editor Ellen Uzelac, “the transition to the independent space has resulted in creative, new business niches as they redefine themselves in ways that would have been largely undoable as brokerage employees.”
Uzelac finds these indie advisors engaged in some rather diverse niches. Texas-based Peter Roth, for instance, specializes in helping business owners conduct exit planning. Craig Adamson is eastern Iowa’s resident expert on retirement products. Brian Solik of New Jersey puts a focus on equity indexed annuities and cash value life insurance.
When Laurie Bachelder worked at a broker-dealer, she was unable to interest her bosses in developing a niche in non-tradtional investments. Subsequently, Bachelder formed a fee-only RIA to specialize in such assets. “If you own dressage horses and you’re not comfortable in the stock market, why not invest in dressage horses?” says Bachelder. “Our specialty platform wasn’t intended to replace traditional investing. It simply adds balance.”
Contributing Editor Jane Wollman Rusoff taps the wisdom of a panel of experts regarding six critical conversations that can help advisors meet investing goals and steer clients away from self-defeating decisions.