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Monday, November 14, 2011
Heirs take money and run - from financial advisers
The ratio of 4-to-1 applies to most advisory businesses, yet few advisers are likely aware of it.It's the number of new accounts that an adviser must add to compensate for the revenue lost when an account leaves a firm through a generational transfer, according to consultant Rodney Zeeb.
“This is one of the biggest problems mature advisers face, and if they don't do something, they'll lose a substantial portion of their revenue — and firm value — over the next few years,” said Mr. Zeeb, co-founder of The Heritage Institute LLC, which trains advisers to work with multigenerational families. Read more... posted by Charles Monat Associates at 3:59 PM
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