Throughout our past blogs, there is a consistent and recurring theme when we talk about succession planning—time—which is where our own succession story begins. Pinnacle Advisory Group’s three founding partners began planning for the firm’s succession and their own exit about ten years ago. The initial driver for starting the process of succession planning was…
Recently, Jeff Bezos, founder of Amazon, announced that he will be stepping down as CEO of retail giant Amazon after 27 years to focus on other passions. Maybe the events and uncertainty of the past year has you thinking about Mr. Bezos and thinking its time for a change? If so, you are not alone. …
Not much has changed in our industry relative to succession planning. Advisors are still aging and the number of people joining the profession is still low. And we continue to see a large number of advisors operating their firms without a plan for retirement. More than half of advisors are approaching or already in retirement…
“ . . . The PRISM continuity planning solution is really very simple, it’s designed to address the three primary concerns that advisors have. The first of which is, overwhelmingly, “Will this take care of my clients in the event something were to happen to me? Will they be in good hands should something happen…
I feel like every spring there is renewed focus on an advisor’s succession planning (or lack thereof) in the trade press. This year is no different. And, as in years past, a key statistic remains unchanged – most advisors lack a plan either for protecting their clients if something unexpected were to occur, or for…
As 2018 winds down, we would like to acknowledge the achievement of a significant milestone: the five year anniversary of our continuity and succession solution, PRISM. Pinnacle Advisor Solutions was founded in 2011 with a simple mission: to support the needs of independent advisors. We began by offering access to our investment management, financial planning…
Most, but not all, financial planners list small business planning and exit strategies as a line item in the scope of planning services they provide. Better operational, financial, and tax implications of proper exit strategies for small business owners, a common niche for many financial planners, will inevitably lead to improved client satisfaction, retention rates,…
When I began working for Pinnacle in September, 2013 I was new to the world of financial advisory firms. I faced a steep learning curve in my first few months here. Just before my arrival, Pinnacle launched PRISM, its solution for business continuity and succession plans for independent RIAs. When I began to familiarize myself…
At its recent LINC Conference, TD Ameritrade held a panel discussion, Washington Flyover: Policy Coming Your Way, moderated by Skip Schweiss, TD Ameritrade’s managing director for advisor advocacy and industry affairs. Schweiss highlighted in his comments “While surveys suggest most advisors are aware of the coming (business continuity) rule, less known is the fact that…
When talking with advisors and trying to keep them up to speed on the latest regulatory changes it’s become difficult for me to keep track of the changes at both the state and federal level. I got to thinking that it would be great if there was one place with all the information. So, we…