Hightower Advisors’ Post

Are you a financial professional looking to get into the ultra-high-net-worth space? Here are 3 tips from a firm that built their success on channeling high-performing single-family offices for their #UltraWealthy clients.

Understanding advisor payouts and compensation models is crucial for building a successful, sustainable advisory career and business. But let's face it, it can be a nuanced topic to untangle on your own. That's why unpacking the nuances of financial advisor payouts through expert insights is essential for maximizing your earnings potential and business growth. In this week's article, we help you gain clarity on areas like: ✅ Common payout models (revenue-split, grid rates, etc.) ✅ Factors that impact your compensation ✅ Strategies for negotiating & optimizing your payout ✅ The role of team dynamics and revenue sources Read through this must-know information on advisor payouts. Implementing what you learn could be a game-changer for your career trajectory and bottom line. https://loom.ly/RGO_Jsg

C2P's Content Favorite Countdown to 2024 Learn how successful firms are adapting with professionalized structures and why succession planning is vital for longevity beyond the baby boomer generation. A must-read for forward-thinking financial advisors! 🌟🏦 #FinancialServicesEvolution #C2PInsights https://hubs.ly/Q02dzrjc0

I enjoyed speaking with Steve Garmhausen at Barron's about advice I’d offer to young advisors starting out. A career in wealth management can be extremely rewarding, but also comes with its own challenges. Online trading and investment research platforms have significantly increased individual investor access to many of the basic services historically offered by traditional investment advisory institutions. As a result, wealth managers have had to expand the breadth of services they offer to continue demonstrating value for their fees. Aspiring advisors should consider deploying a more holistic financial planning approach when building their practices, while simultaneously developing a deep expertise in alternative investments, to differentiate themselves from their more senior industry peers. Additionally, committing to continuing education and earning professional designations are good ways to supplement experience gaps early in one's career.  

Being handed to a new advisor is a great chance to think about switching advisors. Firms expect that people will leave at that point. Especially if there wasn't a lot of planning into advisor exiting the business. EXIT ≠ SUCCESSION Just because it's the same firm doesn't mean that it's the same experience. Different advisors do things differently. From investments, to meeting rhythms, to values. If you get a new advisor at the same firm, not only are you starting at ground zero with the relationship, it might be ground zero across the board. We see this all the time as we chat with potential clients. Questions to ask your new advisor: 1) Are they headed towards an external sale, or an internal succession plan? External is more money, but less on the line to make sure the clients are well taken care of. 2) Is the service model aligned to 80% across the practice? 20% gives the advisor to customize to the clients' needs, but the firm is setup to serve people consistently across the board. No consistency = a frazzled service team who's trying to serve 3-5 different "bosses" according to their preferences, which also change from time to time. 3) If you're high net worth, ask about a team of advisors being assigned to you. Do they have specialties, like CFA charterholders for investments, Enrolled Agents for tax planning, CFP® Professionals for planning, etc.? These certifications are table stakes for someone managing your entire financial life. The minimum requirements for being the business aren't great. 4) Do you manage portfolios with an in-house team of Chartered Financial Analyst Charterholders? Outsourced management can cause unforeseen tax consequences that hurt your plan. Insourced management where the advisor just picks the funds they think are best is dicey. Watch out for that. #retirement #investments

Attn: Experienced Financial Advisors/Planners It's no secret that the Bradenton/Lakewood Ranch/Sarasota market has been and continues to undergo Significant Expansion! As such, Equitable Advisors is strategically placing a significant emphasis on identifying the right Talent to dramatically expand our footprint in the region. If you're not familiar with what we have to offer potential qualifying candidates; Our industry leading "Supported Independence" platform brings together the best of both worlds; Ownership of your Wealth Management Book from Day 1 with Highly Competitive Transition Packages and Payouts, Coupled with World-Class Infrastructure and Support.... Allowing you to streamline and optimize your practice, while directing your time to where it matters most... Being with your clients. I will be in Sarasota next week hosting confidential conversations for those interested in simply learning more about what we bring to the table! Let me know if you'd be interested in sitting down and spending a little time exploring Supported Independence! [email protected] 813.777.2754 #financialplanning #wealthmanagement #supportedindependence #equitableadvisors

Managing wealth as a tech executive can be quite the challenge. From CEOs to CFOs and marketing VPs, each role has its unique financial strategies. Discover how companies can support their leaders in achieving financial success. Dive into the insights here: https://okt.to/G40mdX

Following Farther’s inclusion in Inc. Magazine's 2024 Best Workplaces list – setting the firm apart as one of only 50 financial services companies selected out of more than 500 honorees – InvestmentNews' Steve Randall reported on our company's 32 new hires: further demonstrating our commitment to being a wealth management firm made by advisors, for advisors. Read the full article here: https://bit.ly/3Wpy7F4. #gofarther #wealthmangement #wealthtech #financialadvisor #teamfarther

We are honored and humbled to recognize our Best-in-State Advisors and Business Owners, from the Southeast Florida Division, who were named by Forbes as one of the 2024 Best-in-State Wealth Advisors. 2024 Forbes Best-In-State Wealth Advisors: Awarded April 2024; Data compiled by SHOOK Research LLC based on the time period from 6/30/22 - 6/30/23 (Source: Forbes.com). 2024 Forbes Best-In-State Wealth Advisors rating algorithms are based on the previous year's industry experience, interviews, compliance records, assets under management, revenue and other criteria by SHOOK Research, LLC. Investment performance is not a criterion. Self-completed survey was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria.

Unlock the Future: Elevate Your Practice with Convergent Financial Partners in the Carolinas! Attention Financial Advisors in North and South Carolina! Ready to transform your practice and secure a thriving future? Discover how Convergent Financial Partners can accelerate your growth and guide you through succession planning. Navigate Succession with Confidence: Wondering where to start with your practice's succession plan? Our expert team is here to provide the guidance and support you need to ensure a seamless transition within the next 10 years. Join a Flourishing Community: Become part of a vibrant community of independent advisors who share your values and commitment to delivering superior value and advice. Together, we thrive. Curious to learn more? Comment or message me today, and let's start the conversation about shaping your practice's successful future! #FinancialAdvisors #SuccessionPlanning #FutureForward