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February 24, 2017

THE FUTURE OF BUILDING A FINANCIAL ADVICE BUSINESS

New Sellers / Put $$$ in Your Pocket / Fantastic Opportunity for New Advisors | Queenston Consulting

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fletcherm

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One of the most important questions for future advisors, current advisors, Dealers, MGAs, EMDs, manufacturers, etc . is whether an advisor can build their business  into a profitable operation moving forward –  if not profitable – NOBODY WINS (except maybe the banks).
Think about the challenges of growing your business organically today:
  • Cannot cold call
  • Cannot cold email
  • Few “Agency” systems for training / hand holding
  • Commissions on “Trial” – and the trial is rigged
  • Paperwork is overwhelming
  • Compliance costs and administration increasing
  • Dealers and MGAs squeezing advisors ESPECIALLY newer smaller advisors
  • So called committees outfitted with individuals whom have never been on the front lines determining that what is worst for advisors must be best for consumers
  • The list goes on …………………
What happens if you cannot grow your business?
  • Dealers are reducing payouts dramatically
  • Dealers are cancelling license sponsorships regularly
  • Advisors with $10 million AUM are earning $25 – 30,000 BEFORE business expenses
  • Young people will not come into business it they don’t see a viable business enterprise
  • What is the future of the Industry?
Let’s be frank here – Large Dealers, MGAs, other companies in the middle of the distribution chain DO NOT CARE about hiring, developing or nurturing new / young / small advisors. So senior advisors should ask them self – “WHO WILL BUY MY BUSINESS IN 5+ YEARS? Those same companies are working at holding down prices at the expense of the older advisors and either passing those clients to another successful advisor (keep assets in house) OR a salaried employee. Look at the Banks business model – it is wise for those businesses that have the economies of scale to attempt to duplicate that model – cause it works. Who loses? In my opinion the industrious hard working advisors and the consumers. Banks don’t phone to remind consumers to make a RRSP contribution or increase their PAC.
 
IS EVERYTHING DOOM AND GLOOM? ABSOLUTELY NOT.
In United States there is one business model that is more successful than any other – Teams / Partnerships / Corps with several owners – all of these whether they function as an Ensemble or as a Silo structure. Why? The perfect model for economies of scale, synergy and division of labour is size – more assets, more clients and more advisors results in more growth in profitability.
 
WHO ARE YOU GOING TO CALL? ………………….    QUEENSTON!
 
Why Queenston?
  1. 1.       The first step is a valuation – Queenston ‘s speciality.
  2. 2.       The second step is finding the right fit – we can help,
  3. 3.       The third step is structuring the best win-win deal – Queenston has done more deals than anyone in Canada,
  4. 4.       Finally design the best Business Model for your business – the best model for you and your future – talk to Queenston.
We have started a Recruiting Program to find what you are looking for – whether you have a 1 year exit strategy or 40 year acquisition strategy.
In the meantime – we have several advisors under contract all over the country with a 3 – 7 year exit strategy looking for advisors wanting to acquire a working relationship with a younger advisor. CONTACT ME NOW FOR MORE INFO at [email protected]
The future of growth is working with qualified hard working partners – Queenston can help you!!
 
LET’S TALK!

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