http://wealthfly.com/blog/2007/02/01/solo-advisory-practices/ A blog for investment advisors, brokers and financial planners. Tue, 06 Jan 2009 11:50:49 +0000 http://wordpress.org/?v=2.3.3 http://wealthfly.com/blog/2007/02/01/solo-advisory-practices/#comment-47 Bill Ramsay Wed, 14 Feb 2007 13:04:57 +0000 http://wealthfly.com/blog/2007/02/01/solo-advisory-practices/#comment-47 Moss Adams is getting better with their questionairre for this study. I'm hoping this years will continue to improve. It is difficult for the participants to be consistent in the way they show their income as Moss Adams has yet to create inputs for all the components of owners compensation. Depending on how client centered an advisor is, the future buyout factor may be more or less important. Seeking a high buyout from a third party buyer may net more to the owners, but also increases the potential for clients to get the shaft due to the pressure for the buyer to rationalize the price paid. In the Putnam comment, I mentioned Dodge and Cox's high ethical standards, which extends to the owners leaving the firm- they must resell to the firm, and the firm doesn't pay anywhere near what a Great West would pay. Its one of the reasons they've been so good for so long. One of the most important factors in deciding solo vs. firm is personality. As you point out, some people really like building systems and are more suited to building a firm. You can pass my contact info on to your friend if he would like to talk about my experiences and thoughts about building a firm. Moss Adams is getting better with their questionairre for this study. I’m hoping this years will continue to improve. It is difficult for the participants to be consistent in the way they show their income as Moss Adams has yet to create inputs for all the components of owners compensation.
Depending on how client centered an advisor is, the future buyout factor may be more or less important. Seeking a high buyout from a third party buyer may net more to the owners, but also increases the potential for clients to get the shaft due to the pressure for the buyer to rationalize the price paid. In the Putnam comment, I mentioned Dodge and Cox’s high ethical standards, which extends to the owners leaving the firm- they must resell to the firm, and the firm doesn’t pay anywhere near what a Great West would pay. Its one of the reasons they’ve been so good for so long.
One of the most important factors in deciding solo vs. firm is personality. As you point out, some people really like building systems and are more suited to building a firm.
You can pass my contact info on to your friend if he would like to talk about my experiences and thoughts about building a firm.

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