5 Trends

Successful Transitions: Getting It Right

Journal of Financial Planning

Succession planning is a hot topic these days, as well it should be. We are experiencing a significant graying of the profession and many advisers are considering exit plans. But succession or exit planning should be a long-term process, not an “OMG, I’d better figure this out” moment.

Every financial planning practice has a life cycle; for many advisers it looks roughly like this: survival mode, “Midas” growth phase, first stumble, success, second stumble, sustainability/decline. Each of these phases is an opportunity for the business owner to evaluate the current situation and develop a strategy for moving forward. It may seem like an obvious process, but all too often it’s simply not addressed. Advisers bring their own styles and personalities to their business lives and those characteristics often inform how they run their businesses.

 

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Successful Transitions: Getting It Right
By Matt Lynch, Managing Partner, Strategy & Resources LLC.
Journal of Financial Planning, December 2015

 

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5 Trends That Matter to RIAs That Want to Grow

Consumer preferences, competitive threats, and compliance and regulatory noise are the driving forces in advisors’ evolving futures.

Investment Advisor article Nov 2015 (Illustration: Gary Neill)

These trends are changing the way advisors serve their clients and build their businesses. (Illustration: Gary Neill)

What can you do? Start by lifting your sights from the day-to-day stresses and think about the major trends affecting our industry — and your long-term strategy. That always helps put distractions in the appropriate context. Right now, I count five trends important enough to require that you think proactively about how you are going to deal with them.

WHAT’S DRIVING THE TRENDS?

It’s important to know what the trends are, and it’s important to know what’s driving them: Consumer preferences, competitive threats, compliance and regulatory noise or some combination of these “Three C’s.” Then you can decide, if you’re an advisor or part of a firm that serves them, whether it’s just a passing fad, a trend you can beat or a systemic change you can’t ignore.

 

Read full article:
5 Trends That Matter to RIAs That Want to Grow
By Matt Lynch, Managing Partner, Strategy & Resources LLC.
ThinkAdvisor.com, Nov 2, 2015
Originally published in Investment Advisor, November 2015

 

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How to Recruit from the Top

The challenge firms face when recruiting is defining their value and how that differentiates them from other practices. Sure, everyone wants a bigger payout.

My recommendation is that he should play up the mentoring and coaching and business development. Those capabilities can create a whole lot of value for recruits. This would mean expanding the mentoring program—making it more formal.

– Matt Lynch

 

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How to Recruit from the Top
By Anne Field, Weathmanagement.com, Sept. 7, 2015

 

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Add Value or Get Out of the Way

From the perspective of the end-client, the process of procuring financial products, from whole life insurance to liquid alts, is changing and the industry should be proactively changing with it. Investors as well as advisors should benefit.

 

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Add Value or Get Out of the Way
By Matt Lynch, WealthManagement.com, Jul 14, 2015

 

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The Style Wrinkle

One might argue that advisors are more sophisticated in the way they are thinking about and evaluating the performance of funds. But Matt Lynch is not sure if that’s necessarily true. In this article, he suggest that advisors are wise to think about a new wrinkle: Advisors are adopting a philosophy about the way they think assets should be managed, as opposed to playing tic-tac-toe with the Morningstar style box. An obvious example is the debate between passive and active management; another is the new popularity of liquid alternatives. Are your clients clear about the value you add as an asset manager to help them achieve their financial goals?

 

Read full article:
The Style Wrinkle
By Matt Lynch, Financial Advisor magazine, June 4, 2015

 

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