Creating a Data-Driven Practice
The idea that data is important for driving decisions is not new. That said, I think that in a time when we are immersed in dashboards and business intelligence, the actual benefits get overlooked.
Category: Firm
IFP announces termination of LPL contract
Officially launches independent broker-dealer Tampa, Fla. May 22, 2019 – Independent Financial Partners (IFP) has announced the official termination of their contract with LPL Financial (LPL) today, and that the firm has begun the process of transitioning to its new independent broker-dealer entity. Leaving LPL with more than 200 financial professionals and thousands of client …
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2018: A Year in Review
2018 was a watershed year for IFP. At the beginning of the year, we made the decision to do something exciting and risky — leave our current broker-dealer, LPL Financial, and create our own. That meant informing LPL of our intent and hoping they would work amicably with us. That meant informing our clients, the …
Is Your Broker-Dealer Transparent?
A financial professional hedges a great deal of their success on the broker-dealer they choose to affiliate with. The broker-dealer controls the price points for revenues by setting financial professional payout percentages, and it controls the price points for expenses by setting trading costs and fixed technology expenses, among other things. As a financial professional, …
The Importance of Choice as a Financial Professional
I started in this business in 1983 with the Cigna Corporation doing fee-based financial planning on a consultative basis to clients. Cigna was one of the first firms to introduce a sophisticated comprehensive planning approach to helping clients meet their needs. More importantly, Cigna allowed me to be independent and have choice when it came …
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Outsourcing Custody and Clearing
Hey folks – Bill Hamm here. As we get closer to the broker-dealer launch, I wanted to cover some important parts of starting this new journey and what it means for IFP. Today I’ll be discussing an incredibly important topic regarding broker-dealers: custody and clearing arrangements. Although we have been an RIA for over twenty …
Hiring the Right People at the Right Time
In an industry driven more and more by technology, automation, and artificial intelligence, success still hinges on something very tricky: ?humans. Ugh, humans; we’re a mess. We bounce back and forth in a never-ending cycle between failure and success, mediocrity and greatness, logic and delusion, and just about every state in between. We come in …
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3 Ways to Make Your Office Inviting
The other day I walked into a financial professional’s office and was immediately meet with wall pattern designs from the 90s, drop-out ceiling tiles, and a bowl full of Werther’s Originals chilling on the counter for good measure. While I appreciate the trip down memory lane to the early 2000s when I was waiting for …