Top 3 Questions Every Breakaway Advisor Asks – Part 2
June 15, 2017
Wirehouse advisors do not launch RIAs on a whim. After years of toiling away in the captive employee model, building a book of business and having the privilege of earning client trust and loyalty, they have a pretty good gig going. Many advisors, rightfully so, have the attitude that the devil you know is better…
Top 3 Questions Every Breakaway Advisor Asks – Part 1
June 8, 2017
As breakaway transition consultants, we are often asked, “What are you hearing from wirehouse advisors these days? What’s on their mind?” For years, the breakaway conversation revolved around all the bad things that were pushing advisors out of the wirehouses and into the RIA channel. As the independent space has evolved, the narrative is slowly…
A New Twist on Succession Planning Urgency
May 5, 2017
Although the drumbeat for succession planning has been getting louder over the years, the industry continues to remain woefully unprepared. We have all seen the headlines screaming about the more than two-thirds of advisers who don’t have succession plans, yet the average age of those adviser principals who are owners is getting closer to 60….
Big RIAs Now Face Their Own Breakaway Movement
April 3, 2017
There is some debate as to the official launch of the breakaway advisor movement, when advisors began leaving the shackles of the captive wirehouse environment for the freedom and independence of the RIA community. In order to pinpoint an exact date, we not only need to consider the exodus of advisors, but we also need…
How RIAs Can Compete in the Lending Game
March 15, 2017
Too many wirehouse brokers considering going independent are led to believe that once they leave their bank-owned brokerage they will no longer have access to sophisticated lending tools to offer their clients, such as competitively priced margin loans or home loans. The issue is becoming increasingly important as full balance sheet management has become table…
PFI Advisors White Paper: Innovative Lending Solutions in the RIA Space for Breakaway Advisors
January 11, 2017
We have determined that advisors thinking of breaking away should not let the fear of inadequate lending solutions for their clients deter them from considering the independent space. In this white paper, the third in our industry series, we examine several of the many avenues available to RIAs looking to provide sophisticated, competitively-priced lending solutions…
PFI Advisors’ 2016 Top Blog Posts
December 28, 2016
As 2016 comes to a close, we reflect on our first full fiscal year in business. We have worked with many impressive RIAs and have spoken with numerous entrepreneurial advisors seeking guidance in leaving the walls of the wirehouse and building their own firm. The excitement of the ever-evolving RIA industry keeps us on our…
Coming from a Millennial: Millennials Want a Mentor and #Values
December 16, 2016
PFI Advisors’ Analyst, Anna Maria Garcia, suggests Millennials seek a mentor that leads with values in the beginning development of their career. “Millennials and their entry into the workforce” has been a hot topic as of late. Plenty of articles have been written about what millennials should do, how they’re different, how you should approach…
7 Critical Steps to Becoming a Professional RIA Buyer
November 28, 2016
As conference season winds down in the wealth management industry, everyone seems to be discussing the “mega trends” that are leading to consolidation in the RIA space. From aging advisors, to low-cost online competition, to more strict regulatory requirements increasing the overall cost of doing business, savvy buyers are able to capitalize on these trends…
“The Long Game” of Starting an RIA
November 14, 2016
The recent DOL FAQ released on October 27th has driven recruiters and their advisors into a tizzy. Howard Diamond of Diamond Consultants declared it the “most hectic week” they have ever experienced, and they’ve been leading the wirehouse recruiting game for over 15 years. According to new interpretation by the DOL, wirehouses will no longer…
