Jumping into the M&A Game
October 9, 2017
As operational and technology consultants, we are contacted at least three times per month from larger RIAs saying, “A friend of mine just bought a $100 million practice – I want to do that too!” This is a common response from aspiring buyers as the industry is beginning to consolidate based on advisor demographics and…
Why Operations Teams are the Unsung Heroes Behind Breakaways
September 20, 2017
The breakaway movement has continued to gain headlines as more teams have made the leap to the RIA channel. Most articles surrounding recent breakaways tend to focus on how much assets the adviser has managed, the adviser’s experience in the industry and the custodians and technology firms that may have assisted the RIA formation. What…
Layla Paige Sonnen 4/9/15-7/8/17
July 10, 2017
To our business partners, associates, and clients who have tracked our daughter’s struggles with her brain disorder, we are completely heartbroken to inform you that Layla Paige Sonnen succumbed to her condition on the morning of July 8th. While we are absolutely devastated by this, we are soothed by the thought that she is now…
Celebrating 20 Years in the Industry: Matt Sonnen Concedes to an Interview with his Toughest Critic…His Wife
June 27, 2017
Below is a transcript of an interview Matt and Larissa conducted over margaritas in Hermosa Beach, CA on June 20th, 2017. Larissa: So, 20 years in the industry is a long time…How old do you feel? Matt: Ha ha! The industry hasn’t worn me down, but our kids have! We haven’t slept in 4 years!…
Top 3 Questions Every Breakaway Advisor Asks – Part 3
June 22, 2017
As discussed in our previous posts (See Part 1 and Part 2), many wirehouse advisors have concluded that while their current employment situation clearly has its faults, for the most part, they have found a way to make it work. Many advisors decide that for the amount of money they earn, they can live with…
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…
