Who plans for the planners?
Advisors create detailed financial plans for their clients, but should also plan for the growth and evolution of their businesses by considering the strategic decisions they will have to make along the way, according to a report from Jersey City, N.J.-based Pershing Advisor Solutions.
The report, entitled “Crossroads” guides advisors through many stages of their business’s growth, from fledgling book of business to full-service, multi-office firm. The report comes during a generational transition in the industry says Gabe Garcia, managing director and head of relationship management at Pershing.
“The average firm within the RIA space was established back in 1997,” says Garcia.