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REP. October 2012

Browse articles from the October 2012 edition of REP. Magazine.

Cover Story

  • Sep. 21, 2012
    Article
    REP.

    Desperately Seeking Financing

    Obtaining financing to purchase an advisory practice is an undertaking fraught with frustration. Here’s how some advisors did it....More

Features

  • Oct. 1, 2012
    Article
    REP.

    Making Partner

    How to add partners to create a team advisory practice. (Oh, if you aren’t growing, you are not team-ready.)...More
  • Oct. 1, 2012
    Article
    REP.

    CIC Wealth Management (Commonwealth Financial Network)

    Most partnership agreements are iron-clad, drawn up after days of discussion and lawyer input. That’s not the way Ryan Wibberley and Michael Fein struck a partnership in 2002; up until a couple years ago, the two were operating on a handshake....More
  • Oct. 1, 2012
    Article
    REP.

    Dowling & Yahnke Wealth Management

    Dale Yahnke remembers a time in 1998 when his RIA firm was at about $175 million in assets, and he and his partner were just too busy to take on any new clients. So they hired Paul Temby, an MBA graduate, a CFP, and CFA (not to mention that he speaks four languages). The phones kept ringing, with clients continuing to ask for Yahnke, until one day, one client asked for Temby....More
  • Oct. 1, 2012
    Article
    REP.

    Ellison Kibler & Associates, Merrill Lynch

    Remember Oct. 19, 1987? That was the day the Dow Jones Industrial Average lost 22.6 percent in one trading day. That was a Monday and by that Saturday, J. Hagood Ellison Jr. and E. Robertson Kibler, both Merrill Lynch financial advisors, were huddling to change their business models. Back then, the classic brokerage model reigned: stock picking for commissions....More
  • Oct. 1, 2012
    Article
    REP.

    Private Ocean

    Greg Friedman, owner of Friedman & Associates, and Richard Stone, founder of Salient Wealth Management, met some years ago at a Schwab IMPACT conference. Turns out their financial advisory offices were within 10 miles of each other. A few years later, Stone says he came to a crossroads. His firm, Salient had hit a wall. The practice had met growth targets, but Stone says, to remain on the growth path he had to master technology and create a deeper bench of employees. “If I would have lost one or two people, we would have been in trouble,” Stone says....More

Investing

  • Oct. 3, 2012
    Article
    REP.

    Flexible (Bond) Funds

    Nontraditional funds that can sell short are attracting advisors’ attention—and client money....More
  • Sep. 25, 2012
    Article
    REP.

    Betting the Farm. Literally.

    Farmland prices grew more than residential real estate, and continued even as home values fell. It's an attractive asset class for some investors, but it may be headed for a correction....More
  • Oct. 2, 2012
    Article
    REP.

    Beta Is Not a Bad Word

    Adjusting a portfolio’s beta creates value—either positive or negative—on top of any produced by the managers’ stock-picking skills....More

The Practice

  • Sep. 27, 2012
    Article
    REP.

    Going Solo

    While there are many merits to having partners in the advisory business, for some being a lone practitioner is the only way to go. But it’s crucial to set expectations – and boundries – with clients....More
  • Oct. 5, 2012
    Article
    REP.

    Lost In Translation

    Different languages: How communication gaps can kill recruiting....More
  • Sep. 18, 2012
    Article
    REP.

    Advisors, plan sponsors falling short on Social Security advice

    Most Americans need help when it comes to understanding how to get the most out of their Social Security benefits. But a new study shows that financial advisors aren't very knowledgeable about the ins and outs of the program, either....More
  • Sep. 17, 2012
    Article
    REP.

    College Rankings Are Not Accurate

    This fall U.S. News & World Report released its annual college rankings. In truth, these rankings do more for the colleges and universities that fight for inclusion than they do for prospective students trying to decide where to go....More
  • Sep. 20, 2012
    Article

    Health Care Costs Are Making Clients Sick

    The panic over current and future medical expenses is almost as high as the potential cost. The new health care rules mean that the need to reevaluate the clients’ coverage options will be ongoing, and could occur every time they change employers, or even move to a different state....More
  • Oct. 5, 2012
    Article
    REP.

    Don’t Sell Yourself Short

    Many advisors are going about selling their value all wrong. The old elevator speech may need some rejiggering....More
  • Sep. 17, 2012
    Article

    Insuring Income

    Buying protection for a client's retirement income can be overwhelming. Should you choose a variable annuity with a lifetime income rider? Or an immediate annuity? Here's how to wrap your head around the answer....More

Opinion

REPorts

  • Sep. 13, 2012
    Article
    REP.

    The Newest Threat to Asset Managers: The Wirehouses

    Global asset management revenue remains on the same downward trend since 2007, but there’s a new threat to their profitability—the wirehouses, according to a new report by Boston Consulting Group....More
  • Oct. 1, 2012
    Article
    REP.

    A Package Deal

    Most advisors would say they want to do what’s best for their clients. But if that’s the case, they better not manage their clients’ money on their own; better leave that to the home office, new research from Cerulli Associates shows. According to Cerulli’s Managed Accounts 2012 report, packaged mutual fund advisory programs returned an average of 9.9 percent over 2010 and 2011, while open programs (meaning advisor-managed programs) were up 4.3 percent over those two years....More
  • Oct. 1, 2012
    Article
    REP.

    Blotter: October 2012

    Holes in the Bucket...More
  • Oct. 1, 2012
    Article
    REP.

    60 seconds with Lauren Locker

    Newly elected chair of the National Association of Personal Financial Advisors When Ron Rhoades made the shocking decision to step down as chair-elect of NAPFA following a compliance error at his RIA, Lauren Locker, a NAPFA board member, quickly stepped into the role Sept. 1. REP.: Ron had about three months for it to sink in and prepare for the transition, but you’re having get up to speed pretty quick. How are you going about doing that?...More
  • Sep. 27, 2012
    blog

    Obama: A Socialist? Or Capital Markets Wonder Man?

    Barring a near-term collapse, Barack Obama’s term now stands to rank among the best handful of terms in modern stock market history (which he has curiously failed to list among his important first-term accomplishments—that is if one man can take credit for millions of individual actors acting in their own self interest). The three best previous presidential terms for stock prices also occurred with Democrats at the helm. (Take that GOP!) Again, though don’t expect the party to trumpet that fact....More
  • Oct. 1, 2012
    Article
    REP.

    Comings & Goings: October 2012

    Fidelity Investments recently promoted Abigail Johnson to president of Fidelity Financial Services. She previously served as president of the personal, workplace and institutional services organization, which includes the retail and institutional brokerage divisions as well as retirement and benefit services. In her new role, she’ll continue to oversee those divisions, in addition to asset management, and corporate operations and function support groups....More
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