Break Away From The Pack
After you graduated from college, you took a job at a financial firm because this was your area of study and you felt like it was the best way to learn the industry. But you’re not sure that you want to work for someone else for the rest of your life, and you’re...
There are always risks when you decide to form a newly registered investment advisor (RIA) entity. You may have a hard time bringing in clients, and you may work much longer hours than you do as a salaried employee at someone else's business. However, if your efforts...
The past two years have ushered in a whole new world of employee management. Whether your team is in the office, working from home or a hybrid, there are a number of ways to keep the team humming and happy. Judicious hiring Many performance and management issues can...
As an emerging financial services firm, you have to remember that your client’s privacy is a priority. You don’t want to be the firm that’s responsible for a data breach that leads to your client’s information being made public or being available on the dark web. ...
Shareholders are individuals who own stocks in a company. The number of stocks per person generally varies, with the company having major shareholders and minority shareholders. Nonetheless, it’s important that all shareholders feel respected and are treated within...
Business partnerships start with the best of intentions. Unfortunately, that optimism can fade, and one partner may want to leave before the remaining partner(s) is/are ready to call it quits. It can lead to anger and frustration, not unlike a couple who divorces....
Opening a financial firm requires clients to be successful. Even if you take clients with you from your former position, you must take steps to find new clients to continue to grow. Finding effective ways to grow your client base can be challenging, but some tips can...
One of the most important responsibilities you have, when you’re opening a new financial advising firm, is hiring ethical employees. These individuals should represent the values of the company that you’re opening. The people you hire will be responsible for taking...
Financial advisors start independent firms for many reasons. One of the most common is entrepreneurial independence. However, starting an RIA comes with several significant challenges. New, just formed RIAs with limited or no assets will present several unique...
Starting your own financial firm means that you have to determine how you’re going to handle clients who are difficult. When you worked for another firm, you had the guidance of that firm, but you have to make these decisions on your own now. There are a few things to...