Fake News: 3 Headlines
You'll Never See in
Wealth Management
Every day there are countless headlines in our industry. Many are very predictable with “breakouts,” “rollups,” and new technology common (and often exciting) themes. Which got me wondering, what headlines can I not remember ever seeing? I came up with a few.

Billion-Dollar Team Bolts Independent Firm For National Wirehouse. Once advisors taste the freedom, flexibility, and financial rewards of independence; they rarely break back in to prison. When was the last time a prominent advisor left the independent/RIA world to join a huge firm — other than when that huge firm buys their business?

Mega Bank Develops Groundbreaking Tech. A headline recently read that a national IBD with thousands of reps had just made a “new” aggregation system available to their advisors. AdvicePeriod — and many tech-forward firms — have used this system for years. In fairness, being only a handful of years behind the curve isn’t too bad. And that’s what everyone wants, right? To be “not too bad.”

National Brokerage Firm Wins Culture Award. There are so many great wealth management and FinTech firms throughout the country that are recognized for their disruptive business practices and habits that put their teams first. Why does it seem that most of the headlines detailing the culture of big firms have to do with bad habits like opening fake accounts, charging punitive overdraft fees, and result in hundred-million-dollar fines?

Big firms are struggling to retain their top talent and along with them, their hopes for a brighter future. Advisors and clients are seeking something better. Join the revolution.
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