What the Twitter Rebrand Can Teach Advisors About Transitioning
Though numbers have been waning since Elon Musk’s acquisition of the social media company at the tail end of 2022, 300+ million users experienced a significant change to their beloved app – it’s no longer called Twitter, it’s simply called “X”. We’ll avoid any comments on the weirdness of this choice and instead focus on […]
Morgan Stanley Feasted On First Republic Demise; Despite Lower Upfront Payments
At some point being one of the worlds largest, deepest, and arguably most integrated global bank and wealth manager makes a difference. That difference was clear in the midst of the regional banking crisis at First Republic specifically. Morgan Stanley, which remains the ‘real’ Wirehouse leader in advisor headcount here in the US. (**no it […]
New Merrill Lynch Leadership Duo Masks Years Long Attrition Problem By Hiring Rookies (nearly 800 a year)
As the old football saying goes, “If you have two quarterbacks, you don’t have THE quarterback you want.” That seems to be the case with Merrill Lynch’s new leadership duo, Eric Schimpf and Lindsay Hans. And true to form (and probably why they were selected) they’ve gotten a headstart hatching a scheme to properly hide […]
Defining Your Why Ahead Of Selling Your Practice
You’ve put a lot of time and effort into building your practice. So, when the time comes to sell, it’s essential to approach the process with a clear understanding of your motivations and goals. Before putting your business up for sale, it’s important to define the “why” behind your decision. What are your reasons for […]
Too Busy To Transition?
We’re in the throes of summer now and many other things besides your next career step are likely taking precedence, but should they? Offers are still high, technology differences between firms is widening in some cases, your clients product and servicing needs are changing…in fact, now might be exactly the right time – but how […]
RIA Consolidation Fueled By Private Equity Set To Continue
According to a recent report by Cerulli Associates, the consolidation trend within the registered investment advisor (RIA) industry is expected to continue gaining momentum, fueled by private equity investments. Despite a temporary slowdown, industry experts believe that the influence of private equity in the RIA space will persist as investors recognize the benefits of scale […]
Goldman Sachs And Citi Late To HNW Wealth Management Party; Attempt To Bolster Advisor Ranks
As the financial industry continues to evolve and adapt to changing market dynamics, major players like Goldman Sachs and Citigroup are strategically ramping up their efforts to attract and hire talented advisors. With a renewed focus on expanding their advisory teams, both firms are aiming to remain competitive and capture a larger share of the […]
Gorman Proclaims It’s Over
http://3xequity.com/wp-content/uploads/2023/06/GormanClaims.mov Over? Did you say ‘over’? Nothing is over until we decide it is! You know those lines from John Belushi’s motivational speech in the movie Animal House and to be honest, it was the first thing we thought of when we read this story in AdvisorHub. James Gorman, the chief executive of Morgan Stanley, […]
Jamie Dimon Courts First Republic Advisors With Rhetoric and Cash (small amounts)
Jamie Dimon, CEO of JPMorgan Chase, has extended an invitation to brokers from First Republic, emphasizing that JPMorgan is an excellent destination for them and their clients. Dimon’s outreach highlights JPMorgan’s commitment to attracting top talent and expanding its brokerage business. The fine print has yet to be hashed out, but the buzz amongst most FRB to […]