Blog Entries by Ryan N. Shanks, CEO, FINETOOTH CONSULTING

When Looking for a Firm, Seek a Partner and Not a Clone

By Ryan N. Shanks, CEO, FINETOOTH CONSULTING on Friday, February 3rd, 2012

One of the up-and-coming advisor service organizations told me a few days back that one of their brokerage clients is using the relationship as a recruiting tool. Or more to the point, advisors who want to provide this service are actually calling the brokerage firm to see what it would take to get it for themselves. They’re lining up as qualified leads for this firm’s recruiters to prospect at their leisure. What’s pulling all these advisors into the net? Expertise that they don’t have...Read More »

A Succession Plan Should Be A Lot More Than A “Will” For Your Practice

By Ryan N. Shanks, CEO, FINETOOTH CONSULTING on Thursday, January 19th, 2012

The good news is that about 60% of advisors now have written succession plans in place. The bad news is that these plans are rarely more than the corporate equivalent of a last will and testament. Many advisors I work with only took the effort to write a succession plan in the first place because their clients were nervous about where their accounts would go in the event of a death, disability or sudden forced retirement. That’s definitely a minimum requirement. None of us are getting any younger and if you’re like most advisors, you’re skewing into your 50s if not beyond...Read More »

New Recruiting Headlines Highlight “Glide Path” To Advisor Independence

By Ryan N. Shanks, CEO, FINETOOTH CONSULTING on Friday, January 6th, 2012

Fresh news from some of the biggest brokerage networks around is posing a subtle but real challenge to a lot of advisors’ assumptions about how their careers should progress. I’m not going to name names, because the identity of these firms doesn’t really matter. What matters is that brokerage firm ABC just reported spectacular recruiting numbers -- up over 30% above last year -- and its rivals at firm XYZ kept pace by pulling around $500 million in client assets from the wirehouses...Read More »