“What this also tells you in big, bold colors is that advisory businesses do not scale. If you bring more volume to the pipe, theoretically, your average cost per client should go down. But what we’re seeing here is it going up.”
FINRA is contemplating a rule that would require brokers to disclose any incentives they receive to jump to another firm. It’s likely to pass and that will change how recruitment deals are structured in the future.
One of the easiest ways to drive affluent buzz is to deliver small-personalized gifts to your best clients – we commonly refer to this as Surprise and Delight. Most advisors do it from time to time. But the best advisors get more “bang for t...
“We’ve been very specifically targeted by a group that has significant capability. It’s caused a number of disruptions and firms have spent a number of resources to mitigate them.”
