Practice management

With over $700M in AUM, Next Capital Management is the firm's biggest addition this year.

The wirehouse's executives think they've struck on the right formula to boost growth through a simplified comp plan, greater autonomy and an attractive retirement package.

How do smaller firm avoid paying six-digit fines for administrative shortcomings?

Consider customer referrals, a strong media presence and philanthropy.

Consider customer referrals, a strong media presence and philanthropy.

They handle the trading, rebalancing and overall management of portfolios — freeing advisers to face their clients. But not everyone wins, as Michael Kitces writes.

The RIA's parent company is set to buy a very large adviser aggregator. If completed, it would be the biggest transaction of the year.

Older wirehouse advisers opting to go independent should keep these factors in mind if they want a richer exit from the business.

Full-service planning allows for a bigger impact, but a niche approach may mean more objectivity.

Asking outright can be tricky and uncomfortable; use these market strategies instead.

Asking outright can be tricky and uncomfortable; use these market strategies instead.

These prospective clients may have fewer assets but lots of dreams, so make time for them.

These prospective clients may have fewer assets but lots of dreams, so make time for them.

Verify every candidate’s claims about the quality and quantity of their clients.

Verify every candidate’s claims about the quality and quantity of their clients.

Forget mass mailings; instead, try the personal touch.

Forget mass mailings; instead, try the personal touch.

Clients often have unrealistic expectations and approach this big decision more emotionally than financially. These talking points can help advisers field the challenging conversation.

Which firms showed “meaningful progress” in improving client experience? And which one slipped?

Use a creative approach and make sure the gathering is “authentic.”