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Mixing It Up: Achieve Long Term Success With A Diverse Advisor Team
The financial services industry is constantly evolving and the firms committed to being successful within it must be equally change resilient.
Changing of the Guard: Who are the New Financial Services Powerhouses?
The financial services industry is changing, as evidenced by numerous data points released in the 2018 FINRA Industry Snapshot. Among the report’s statistical highlights, industry-wide topline growth rose a remarkable 14% over the past two years to $309 billion.
Seismic Shift – Preparing for the Impact of New Technology in Financial Services
Change is on the horizon for the financial services industry and it is arriving in the form of technological advancement. Seemingly futuristic financial technology upgrades are either currently available or on the horizon including face recognition CRM software, distributed ledger technology, and robo-advice platforms.
An Offer They Can’t Refuse: Wirehouses Release 2019 Comp Plans Early to Win Over Advisors
Wirehouse firms are scrambling for attrition solutions as more and more of their advisors show their discontent by heading for the door. Most recently, large firms have attempted to pacify their advisors in the form of early release of 2019 compensation plans.
Recruiting, Revenue, and Results: Understanding How Hiring Strategies Impact the Bottom Line
Many executives in the financial services industry, primarily in the wirehouse universe, are misguided when it comes to recruiting in that they view recruiting efforts as strictly an expense against income. This simply isn’t the case if done the right way.
Land of Tomorrow – The Importance of Securing and Retaining Next Generation Clients
Financial services is facing a renaissance, and it isn’t just within the firms or the regulatory bodies that govern them where we can find change. One of the most vital shifts occurring is in the customer base itself and understanding who the clients of the future will be, how they choose their financial advisors, and what drives their major financial decisions will prove to be a necessary strategic component of any successful firm.
Frank LaRosa, Elite Consulting Partners Founder and CEO, Featured in Trade Media Twice This Week
The expertise of Frank LaRosa, CEO and Founder of Elite Consulting Partners, was sourced twice this week in trade media publication OnWallStreet.
Looking Into the Future – Technology and It’s Impact on the Successful Advisor
Technology is a hot topic in financial services today as the variety of robust, dynamic, and scalable solutions available are changing the industry in every facet.
It’s All In The Numbers – Wells Fargo is Abandoned by Both Customers and Advisors
For Wells Fargo, no sentimental commercial waxing nostalgic with stage coach imagery can help them now. Although it may be hard for the executives at Wells Fargo to stomach, the downward spiral of the company is in full effect, as evidenced by recent mid-year statistical reports.
Poker Face – With Lightyear Still in the Cetera Game, What Does the Purchase of Signator Mean?
Advisor Group, a division of Lightyear Capital, announced last week that it had purchased Signator Investors Inc. from John Hancock Financial Services for $50 billion in assets.
Mixed Messages: LPL’s Choice for President of Business Development Leaves More Questions Than Answers
The importance of hiring and retaining advisor talent is an issue at the forefront of every financial services firm as teams have seemingly played hopscotch back and forth among Wirehouses, Independents, Hybrids, and RIAs.
Frank LaRosa, Elite Consulting Partners Founder and CEO, Pens OnWallStreet Voices article “Wells Fargo leadership team misses the mark again”
Elite Consulting Partners Founder and CEO Frank LaRosa is the featured writer of the just released OnWallStreet Voices article “Wells Fargo leadership team misses the mark again”
Changing Course: The Death of the Fiduciary Rule is Forcing Large Firms to Chart a New Path; INDUSTRY PERSPECTIVES FROM FRANK LAROSA
The death of the Fiduciary Rule is all but a foregone conclusion and its demise has put large firms in a position where they must create a new roadmap for the future when it comes to internal policies and procedures.
Technology is The New MVP of an All-Star Independent, RIA, or Hybrid Firm Team; INDUSTRY PERSPECTIVES FROM FRANK LAROSA
The playing field of financial services is changing and technology has proven to be the Most Valuable Player. At present, technology makes up around 25% of the S&P 500 and has become essential to how information is communicated, assimilated, and applied.
The Winds of Change – Female Advisors Are Making A Real Impact Within Wealth Management; INDUSTRY PERSPECTIVES FROM FRANK LAROSA
The financial services industry is finally taking note – women are a valuable advisor employee asset and an important component of a firm’s growth potential.
Abracadabra – What Is Really Behind Wells Fargo’s Midwest Disappearing Act? ; INDUSTRY PERSPECTIVES FROM FRANK LAROSA
Wells Fargo seems to be the soap opera of the financial services industry. A disturbing, and bordering on ridiculous, series of missteps, poor business choices, and down-right fraudulent activity is the Wells Fargo status quo.
Easy Come Easy Go – Merrill’s New Compensation Plan May Prompt Its Advisors to Cut Their Losses and Run; INDUSTRY PERSPECTIVES FROM FRANK LaROSA
The well-publicized release of Merrill Lynch’s revamped advisor compensation plan has left the industry rumbling and Merrill advisors apprehensive.
You’re Only As Good As Your Last Trade – Why HD Vest is Leaving Loyal Advisors in the Dust; INDUSTRY PERSPECTIVES FROM FRANK LaROSA
HD Vest is asking its advisors to show them the money and their advisors are delivering. In a dramatic paradigm shift in recruiting and retention philosophy, HD Vest instituted a new plan last year
Frank LaRosa Featured Writer for Financial Planning’s Voices Column, “Will LPL or Lightyear buy Cetera? Either way, proceed with caution”
Frank LaRosa, CEO of Elite Consulting Partners, is the featured writer of Financial Planning’s Voices column, May 21, 2018.
Place Your Bets: LPL Financial is Wagering That Reducing Fees Will Recruit and Retain Talent: INDUSTRY PERSPECTIVES FROM FRANK LAROSA
LPL Financial has been playing the game of The Price Is Right when it comes to their advisors and fees. It all started earlier this year when LPL announced they were lowering fees for advisors with $100 million or more on the LPL Strategic Asset Management (SAM) platform to a flat 3-point administrative fee.
INDUSTRY PERSPECTIVES FROM FRANK LaROSA; For Whom the Bell Tolls: Tracking the Demise of DOL Influence, How Firms Have Taken Advantage, and How Transition Will Change Once Again; This Time for the Better.
It’s becoming increasingly evident that the DOL is on life support. With outdated guidance, a lack of insight, and near zero influence seemingly ruling the day, it comes as no surprise that firms are re-evaluating their approach to DOL mandates.
Industry Perspectives by Frank LaRosa; M&A for the RIA: How a Little Planning Now Can Reap Big Rewards in the Future
Last week, DeVoe and Company released some interesting statistics related to RIA mergers & acquisitions. While the slight uptick in the first quarter of this year of 47 M&As over 46 M&As last year offers an indicator of strength, the most illuminating statistic comes when comparing who the mergers are occurring with.
Industry Perspectives by Frank LaRosa; Buyer Beware: The New 10% Wells Fargo Recruiter Deal is the Industries New B-Share.
Wells Fargo recently announced a new recruiter incentive commission to any recruiters that refer advisors to Wells Fargo.
INDUSTRY PERSPECTIVES FROM FRANK LaROSA; Ground Control to Major Tom – Robo-Advice Technology Gains Momentum in the Financial Services Industry
Last week, UBS unveiled its Advice Advantage Platform, a service platform which allows customers to transact their business virtually with a human-assisted robo-advisor.
Industry Perspectives from Frank LaRosa; Strength in Numbers – Statistical Trends Show the Growing Power of the RIA
An interesting statistic emerged recently from Cerulli Associates that states independent advisors will control more assets than wirehouse firms by 2020. This information comes as no surprise to our team here at Elite Consulting Partners
Industry Perspectives From Frank LaRosa – The Winds of Change Continue to Blow at Morgan Stanley
‘Fasten your seat belts, it’s going to be a bumpy ride’, might best describe life at Morgan Stanley as last week ushered in another round of dramatic leadership shifts within the organization.
Why Brokerage Firms Left the Protocol — and What Will Drive Them Back – Industry Perspectives From Frank LaRosa
We are pulling out of the protocol because we are going to put more resources back into supporting our advisors. This is the line, more or less, touted by firms like Morgan Stanley, UBS and Citigroup at the end of 2017 as they departed the Protocol for Broker Recruiting in favor of their own internal structures and incentives to retain advisors thinking of making a move.
Behind the Curtain – Industry Perspectives from Frank LaRosa; What Once Was Old Is Now New with Oppenheimer’s New Independent Model
The recent news of Oppenheimer offering an independent channel to bolster its traditional wealth management business, by tasking Derek Bruton, the former head of LPL Financials National Sales team, may not have come as a big surprise.
BEHIND THE CURTAIN – INDUSTRY PERSPECTIVES FROM FRANK LaROSA; Taking A Hard Look: Understanding the firm you are at now and where you want to go
In the financial services industry, change is the only guarantee and evaluating your practice, for your sake and that of your clients, to truly address strengths and weakness is the only way to give yourself the ability to strategically plan for ongoing success.
BEHIND THE CURTAIN- INDUSTRY PERSPECTIVES FROM FRANK LaROSA; Plug-N-Play Independence: Don’t Go It Alone
Working as an independent advisor is the career path you want to take but your concerns about turning independence from a goal to a reality are mounting. Do you have enough revenue to support such a move?
Recent News & Articles
<strong><em>Kelce versus Kelce: How Two Brothers Journey to the Big Game Mirrors an Advisor’s Journey to Independence</em></strong>
Frank LaRosa Featured Columnist in WealthManagement.com 2023 Market Outlook
Elite Consulting Partners, The Nation’s Largest Financial Services Transition Consulting Firm, Announces Stacey Frank as Vice President
Elite Consulting Partners Appoints Michael Ryan, Vice President Mergers & Acquisitions
Elite Consulting Partners Hits 50 Employee Milestone; Continues Rapid Nationwide Growth Trajectory
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