For RIA firm owners looking to monetize their, business there are a few different options available. In the past, private equity was the primary source of liquidity for these types of transactions. However, with the growth of the independent channel, there are now a number of different options for firm owners to consider.
For the next-generation advisors who are in line to inherit a book of business from a senior advisor, the goal is to build and shape the legacy that will be left to them and to do so in a way that feels authentic, value-driven, and entirely their own.
In the private banking and wealth industry, things are changing all the time. Keeping up with the changes and adopting the right practices can go a long way.
Successful wealth management firms are utilizing better resources to become more agile and effective. They hire independent contractors to assist in their immediate needs.
In the wealth management firm, advisors may have to push through a lot of red tape to get things done. The excessive amount of regulation and rigid practices can turn the best employees away.