To start with, let's define the term "Contingency Planning."
David Grau Jr.
Recent posts by David Grau Jr.
2 min read
Contingency Planning - A key to acquisition success?!
By David Grau Jr. on Jan 31, 2024 12:01:32 PM
Topics: Contingency Solutions
14 min read
The True Power of Succession Planning — A Retirement Readiness Guide
By David Grau Jr. on Jan 11, 2024 8:37:51 AM
Building a successful independent financial advisory firm that can support the firm’s key stakeholders is a significant accomplishment. But building a successful firm is the first milestone, not the end of the journey. Once the firm is established and stabilized, the next milestone should be to create a sustainable enterprise. This goes beyond figuring out the service and pricing model, attracting and retaining loyal clients, solid branding, and a trustworthy reputation.
Topics: Equity Compensation Succession Planning Equity Sharing
12 min read
Set Your Firm Up for Success — Using Entity Structure to Unleash Growth
By David Grau Jr. on Nov 27, 2023 6:53:59 PM
Starting your business as a financial advisor is an exciting prospect. You're setting the foundation for a successful future and commitment to growth. Whether you are creating a platform to last the duration of your career or working to formalize/upgrade your established enterprise,effective entity planning and setup will serve as the base on which you can build and hopefully as a springboard for future generations.
But there are important considerations to navigate when setting up an entity that are almost always overlooked and go beyond using your state’s website or an online filing service to establish an entity.
Topics: Entity Formation
11 min read
Employee Retention Guide for Advisors - 2024 ed.
By David Grau Jr. on Oct 13, 2023 2:04:08 PM
Strategies to Fortify Employee Retention and Minimize Advisor Turnover
In the fast-paced and competitive realm of financial services, the role of employee retention strategies has never been more critical for registered investment advisors. Independent advisors understand that retaining a skilled and dedicated team is as essential as acquiring new clients and expanding services. This article explores the multifaceted world of employee retention, providing insights into what the most effective advisory firms are doing today.
Topics: Equity Compensation employee benefits Equity Sharing Compensation Talent Retention
5 min read
Buying a Book of Business- How to Acquire a Financial Practice
By David Grau Jr. on Jun 17, 2022 11:15:54 AM
Whether you are just starting out as a financial advisor or you are simply looking to expand your established business, buying an existing book of business could be the right move for you. Opportunities for business acquisitions are becoming ever more common, as the average age of many financial advisors edges closer to retirement.
Topics: Mergers and Acquisitions
7 min read
What is Phantom Equity and How is it Used?
By David Grau Jr. on Jun 14, 2022 6:47:46 AM
As an incentive to motivate hard-working key employees, private employers can issue phantom stock, also known as “shadow stock,” as equity compensation. While the value of these phantom shares will rise and fall in line with the company’s stock, the employee will not gain any actual ownership over the company or minority shareholder rights.
Topics: Equity Compensation
5 min read
How to Acquire a Financial Practice
By David Grau Jr. on Jun 9, 2022 12:11:15 PM
Those employed as financial advisors will likely come to a time in their career where they would like to make a vertical move. Once this stage is reached, there are few clear paths available. Some may decide to dig their heels in and open their own financial advisory firm, scrounging up clients where they can and providing the best possible service to ensure the success of their practice.
Topics: Mergers and Acquisitions
5 min read
Making Sense of the Great Resignation
By David Grau Jr. on Apr 28, 2022 8:47:14 AM
The pandemic has not only upheaved our personal lives over the past year and a half but it is doing the same to our professional lives as well. The U.S. Bureau of Labor Statistics reported that 4.3 million Americans (2.9% of the entire workforce) quit their jobs in August. This is another record-breaking month after the previous record-breaking months. At the end of July, there were 10.9 million open positions in the U.S. In a survey conducted by Morning Consult for Prudential in mid-September, they found that 46% of full-time employed U.S. adults were either actively looking for or considering a new job search. Why have so many workers decided to forge a new path and call it quits with their current employer? And what does it mean for small business owners?
Topics: Compensation
4 min read
What You Need to Know About the FINRA Rule
By David Grau Jr. on Apr 25, 2022 6:25:16 AM
On August 24, 2015, the SEC implemented FINRA Rule 2040. This rule is related to whether and how people who are not registered as broker-dealers can receive compensation that derives from financial transactions.
Topics: Compensation
5 min read
Financial Services and Other Employee Benefits
By David Grau Jr. on Mar 23, 2022 12:23:03 PM
As any employee knows, there’s more to hope for at a job than just the salary. One of the biggest factors of whether or not someone will accept an offer is the benefits package. These are the things that help them feel supported in ways beyond their paychecks, and they can have a huge impact on employee experience.