Guest blogger: Augustine Hong The current pace and the number of mergers and acquisitions are reshaping the financial services industry. The pursuit of scale, for many smaller firms, is not an option but rather a necessary response to the shrinking market share and... read more
If you’re like most RIAs, one of the first pieces of advice that you share with nearly every client is to keep their portfolio diversified. In fact, most of us learned that “don’t put all your eggs in one basket” message long before we began careers in the investment... read more
Consider a CPA heavy-tax practice with a lot of 1040 clients. I hate to break the bad news, but most CPA firms do not want to acquire that practice. The exception will be very high-end 1040 fee clients, but even then, unless the firm has a wealth management practice,... read more
You may not remember the 1992 movie “Glengarry Glen Ross,” but you’ve probably heard Alec Baldwin character’s admonishment to his sales team: “always be closing!” For today’s mid-sized and larger RIA firms, a better piece of advice is “always be acquiring!” It makes... read more
An RIA ready to pursue a growth strategy will probably need some degree of outside funding. And since most RIA firms view themselves as small businesses, they may assume the best source is a Small Business Administration (SBA) loan obtained with the help of a local... read more
There’s a funny thing about high school and college reunions: when we arrive, we’re shocked at how old everyone looks. We can pretend we’re not aging, but we can’t escape the fact that we’re growing a little older every day. Retirement may not be in our immediate... read more
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