RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

What a slew of recent RIA surveys say about the firms' hunger for growth

Firms are ready to hire and recruit investors but they're aware that pitfalls abound

Author Lisa Shidler June 16, 2011 at 2:33 PM
1 Comment
no description available
Scott Dell'Orfano: Two years ago, advisors were all about calming clients down.

Fidelity

|

TD Ameritrade

|

ByAllAccounts

|

Quantuvis

|

Rivermark Research

|

ClearBridge Wealth Management


Elmer Rich III

Elmer Rich III

June 16, 2011 — 10:40 PM

We do this work for both RIAs and TPAs, and others. it is very hard to do. We can go on at length but will make it short.

All financial services firms and professionals now face a much harder and more complex business development environment — post-meltdown. It is hyper-competitive, and getting more so. Likely more opportunities as well. Maybe.

In addition: – Changing from a culture and mindset of hunkering-down and protection to growth is a very big psychological step — for the firm and individuals. Let alone the nuts and bolts business process that need to be added, reconfigured, etc. – It’s (very) expensive – in Principal’s time as well as money. – Social media has changed everything. Everyone’s and every firm’s business reputation now resides on Google, 24/7/365. The best clients and professionals live their lives on-line now via their gadgets. You don’t want to work with the ones that don’t.

The good news is — if you are truly the best at what you do, the world is looking for you. Real, proven, expert problem-solving skills and solutions are getting harder and harder to find. Are you?

Finally, everyone is already fully and over committed in everything in their lives. Getting and keeping the attention of the “best and brightest” clients (and referral sources) is really (really) hard work. Sorry.


Related Moves

July 23, 2019 at 4:30 AM

Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees

The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors

February 17, 2023 at 2:49 AM

Apex nabs Jon Patullo from 'Schwabitrade' to 'raise the bar' and make his new firm's RIA system as 'frictionless' as the old one

The loved and admired TD Ameritrade software chief will bring his playbook -- and possibly Schwab's -- to Apex, which continues to try putting a winning front-end on its old Penson backend, a source says

October 11, 2022 at 12:40 AM

Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

The Menlo Park, Calif., firm nabbed Steve Quirk as first-ever chief brokerage officer to 'bridge the gap between academia and reality.'

January 6, 2022 at 10:33 PM

See more related moves

Mentioned in this article:

TD Ameritrade
Asset Custodian
Top Executive: Tom Nally



RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings


Common Tags


Recent Articles


Popular Writers


RIABiz logo

RIABiz

About Us

Directory

Archives

Connect

RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.