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For Advisors, Business Success Requires Recognizing An Opportunity, Seizing The Moment, And Taking A Risk; An Introduction Of Lisa Gray To A4A Readers
Monday, March 05, 2012 14:08

Tags: advisor industry people | business owners | family offices | leadership | managing | practice management | RIAs | Wealth Management

At dinner last night here at the FPA Business Solutions in San Francisco, an advisor who manages a successful practice told a story about how he came to buy his practice from its former owner. It’s instructive and inspirational.

 
The original owner, who was in his mid-60s, wanted to wind down his career and met his much younger successor at an industry gathering. The owner took an instant liking to the serious young advisor who was just getting started with his business. Within minutes of meeting, the owner asked the much younger advisor if he would be interested in moving from the Midwest to the west coast. The young advisor hesitated but instinctively recognized the opportunity, explored it, and then seized the moment. Fifteen years later, the young advisor now owns a lucrative RIA and is beginning to implement his own succession plan.

This Website Is For Financial Professionals Only


 
The meeting of these two men was serendipitous and extraordinary, but both of these men possessed the characteristic that often makes entrepreneurs successful: they recognized an opportunity, seized on it, and took a calculated risk.
 
In life, moments like these come and go. It is the ability to recognize them, explore them, and go with them that makes entrepreneurs successful.
 
With that in mind, please allow me to introduce you Lisa Gray, a new daily contributor to A4A.
 
Two weeks ago, I received an email from Sydney LeBlanc, a veteran financial writer who ghost-writes books for advisors and is a good and generous soul, introducing me to Lisa Gray, a writer who was looking for work. Lisa and I scheduled a phone call and it did not take long for me to recognize an opportunity, seize the moment, and take a risk on Lisa.     
 
Lisa, a financial advisor in the 1990s who turned to full-time writing a decade ago, is the author of two books, The New Family Office and Generational Wealth Management. She has ties to the world of CFAs and CIMCs, and she coaches advisors on working with ultra-high-net-worth families. She understands the issues confronting private wealth advisors, financial planners, and other readers of A4A.  
 
Lisa today begins writing daily on A4A, covering investing, the economy, practice management and the effort to turn what you do into a real profession. 
 
Lisa visited with me last week and we are kindred spirits, both of trying to be honest and authentic in telling advisors about the world and how to make it better for themselves and their clients.
 
I seized the moment and am taking a calculated risk because I believe that Lisa Gray will help you, me, and the wealth management professionals here on A4A. In joining me and Scott Martin -- who has worked with me for 13 years -- in writing daily about wealth management, Lisa, brings adds a new demension to the news analysis  on A4A. 
 
Please give Lisa feedback -- we don't expect it to always be positive -- and help us help you. Let’s all seize the moment.
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Talk To Me, Readers: Do You Value Aggregated News About Financial Advising Or Would You Prefer More Original Analysis And Opinion?
Thursday, March 01, 2012 18:43

Scott Martin just posted a little ditty about a story in Financial Advisor magazine featuring a couple of advisors who have built successful firms in these challenging times. It's a great story. It occurs to me, however, that I have not asked lately if you value our advisor-news aggregation.  We have a couple of reporters scouring the Web daily for stories worthy of your attention. How are we doing?

This Website Is For Financial Professionals Only


 

 

A4A's audience is great. About half our 4,500 members have filled in profiles showing 95% our members are owners, partners, or professionals at RIAs. t's a great group.

 

I want to provide you with what you want. So please let me know if you value the aggregation of news from other sites? 

 

We look at other sites targeted to financial planners, investment advisors, wealth managaers, and money managers.  Plus, we're aggregating content from blogs by economists, industry thought leaders, academia, and technology websites, and we're also looking at big media -- The New York Times, Wall Street Journal and others.  

 

Would you prefer original content on wealth management? If so, what kind?

 

Your feedback would be appreciated greatly.

 

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The Most Popular Professional Applications Used By RIAs; Advisors4Advisors Technology Survey
Friday, February 24, 2012 12:56

Tags: CRM | Financial Planning Apps | Portfolio Management Software | practice management | RIAs

Advisors4Advisors, a practice management website for investment advisors, recently released a series of reports on the most popular portfolio management, financial planning, and CRM applications used by financial advice professionals.
 
A4A has about 4,500 members and nearly half of them have told us which apps they use to run their firms.   Seventy percent of A4A’s members are not affiliated with a broker/dealer, while 14% are registered reps and 16% are dually-registered. Ninety-five percent of A4A members are owners, partners, or financial advice professionals, while 5% are support staff.

This Website Is For Financial Professionals Only


 
Advisors4Advisors Is Getting 10,000 Unique Visitors Monthly, And I Just Returned From The TDAI Conference Where Some Of You Were Really Nice To Me
Monday, February 06, 2012 15:37

I just returned from the TD Ameritrade Institutional conference in Orlando and while I was there, A4A broke a new barrier, surpassing 10,000 monthly unique visitors.

 
Thank you for affirming that A4A is heading in the right direction. It's inspirational.
 
For example, on Friday morning, I awoke in a frenzy.

This Website Is For Financial Professionals Only



 
I had not given a second’s thought about what I was going to say at an 11 a.m. speaking session, and I shared the podium with three other writers covering technology and practice management, Joel Bruckenstein, Davis Janowski, and Bill Winterberg. Jon Patullo, a senior tech executive at TDAI was the moderator.  I was unprepared and would be humiliated. Why do I always get myself into these disastrous deadline situations?
 
I woke up at seven, showered, packed, checked out, and had settled in with a cup of coffee at the social media lab at by 8:10. The six or eight tables comprising the lab were empty because attendees were heading to the ballroom to see former Vice-President Richard B. Cheney speak at 8:30. I remained undisturbed for 15 productive minutes when Glenn Young, a TDAI relationship manager, passes by and doesn’t say hello. I guess he could tell I was thinking and didn’t want to disturb me, but I had to give him a hard time for not saying hello.
 
Glenn moved on quickly, but not 10 feet behind me, he starts talking with an advisor who, after Cheney was done, would be speaking at the social media lab about search engine optimization. I knew the advisor’s firm name (a customer of Advisor Products) and had to say hello to him. Of course, then I could not stop talking to him because he’s really sharp and we share an interest in SEO and financial advisors.
 
The advisor sits down at my table and we’re talking for a few minutes, when another advisor storms out of the ballroom and, clearly agitated, sits down at the table and declares: “Cheney is so full of crap.” He rails on the ailing former Vice-President for a moment and then the three of us get to talking.
 
I need to prepare for my session and threaten to go back to my room if they don’t stop speaking to me.
 
Then the guy who dislikes Cheney tells me, “A4A is great. I love it.”
 
I tell the pair about how I stink at getting advertisers for A4A and they were so supportive.
 
Point is, A4A readers are really nice to me. Thanks.

 

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The 401(k) Opportunity For Advisors; Download Apollo Lupescu's Presentation Slides Here If You're An A4A Member
Friday, January 13, 2012 17:50

Tags: 401(k)

Apollo Lupescu's presentation this afternoon about the confluence of events that has created a business opportunity for private wealth advisors makes a strong case for using turnkey solutions to outsource entering the 401(k) business.

This Website Is For Financial Professionals Only


 

Download Apollo's slides and check back in a few days when we'll get answers to about 20 questions we did not have time to answer in the 70-minute live session.

 

To download the slides for this and other A4A webinars, you must be a

registered member of Advisors4Advisors

 

 

 

 

 

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