Practice Focus
What Should Your Practice Focus Be?
It is very often that the following question arises when considering a career in Financial Services. “What Should My Practice Focus Be?” We will help you with this. We will do this by Business or Practice Focus/Specialty.
Wire Houses
If you are working for companies like Merrill Lynch, Wachovia Securities, UBS and Morgan Stanley…you should consider the practice management focus of the top 20 Wirehouse Advisors in America. I love the Registered Reps Magazine Top 100 List as it gives profiles and rankings of these superstars. For now here are possible considerations:
Business or Practice Focus/Specialty
Private clients, corporate services, endowments and foundations, retirement plans.
Primary financial advisors to Ultra High Net Worth -HNW individuals.
World-class investment advice and comprehensive wealth management for High Net Worth -HNW clients
High Net Worth -HNW individuals, foundations and endowments.
Discretionary management; high grade fixed income; High Net Worth -HNW individuals.
Private wealth management for High Net Worth -HNW clients custody and execution for money managers.
High Net Worth -HNW individuals, foundations, corporations Forbes 400 individuals and family office.
High Net Worth -HNW and Ultra High Net Worth -HNW clients
High Net Worth -HNW wealth management, consulting, institutional sales and trading.
Managing assets for High Net Worth -HNW individuals and families.
Corporate services.
High Net Worth -HNW and non-profit clients.
Affluent families and corporate executives.
Family office focus; market expertise.
30 Institutional clients (endowments, foundations, hospitals) and 65 high-net-worth families.
Asset management and investment consulting.
Investment policy advisory and high-grade fixed-income portfolio management.
Equity portfolio management.
High Net Worth -HNW individuals and families, equities.
Ultra High Net Worth -HNW wealth management.
Independent Advisors
If you are working for companies like Carson Wealth Management Group (Linsco Private Ledger –LPL) ,The Delp Company ((Linsco Private Ledger –LPL), Wharton Business Group (FSC Securities), Maximum Financial (GunAllen), Robertson & Associates (First Allied), Professional Planning Group (Raymond James), Financial Development Corp. (Mutual Services Corp.), Retirement Income Solutions (Mutual Service Corp.), Meg Green & Associates (Royal Alliance) Carroll Financial (Financial Network Investment Corp.), Haussmann Financial (Securities America), Heritage Financial Services (Commonwealth) Green Financial Resources (Multi Financial/ING) and Carl Stuart Investment Advisor (Raymond James) …you should consider the practice management focus of the top 100 Wirehouse Advisors in America. The Registered Reps Magazine Top 100 List gives profiles and rankings of these superstars. For now here are possible considerations from the top 20:
Business or Practice Focus/Specialty
Wealth management and asset management.
Wealthy and ultra wealthy clients.
Independent consultant to business owners, endowments, foundations and hospitals.
Investment advisory firm. Solve problems using cash flow strategies and growth.
Managed money, estate planning and investment banking for High Net Worth and Ultra High Net Worth.
Wealth management and investment advisory services for individuals and endowments.
Financial planning and asset management for senior executives and professional athletes.
Business owners and high-net-worth clients.
Retirement planning, tax planning and financial planning.
Fee-based investment management and financial planning.
Financial planning.
Wealth management and retirement planning.
Financial planning, investment management and tax-sensitive portfolios for High Net Worth investors.
Clients with $5 million to $20 million, including business owners, professionals and institutional accounts.
Wealth management and retirement planning.
Institutional wealth management for Ultra High Net Worth individuals, families and small business owners.
Fee based practice serving individuals who are retired or nearing retirement.
Retirement planning, fee based asset management.
Special Needs Planning for Children
Managed accounts; asset accumulation and preservation for retirement income.
Boutique financial planning firm specializing in retirement for Fortune 500 employees.
Insurance
If you are working for companies like Prudential, New York Life, State Farm Insurance, Liberty Mutual and Met Life you should consider the following practice management specialties. (There are other great companies...I mentioned a few)
Business or Practice Focus/Specialty
Actuary
Adjuster
Asset Allocation & Selection
Asset Management Process
Claims
College planning
Commercial Insurance
Credit Life/Health
Crop Insurance
Deferred Compensation
Key Executive Planning
Elder And Long Term Care Planning
Estate Planning
Ethics
Financial Diagnostics
Financial planning
Health and Disability Insurance
Individual’s Retirement Strategies
Insurance Planning
Investment Strategies
Life and Health Insurance Agent
Life Insurance Agent
Limited Lines Agent
Marine Insurance
Personal Lines Brokers
Property and Casualty
Regulatory & Ethical Issues
Retirement Exit Stratégies
Retirement Planning
Small-Business Owners
Special Needs Planning for Children
Tax Planning
Wealth Management
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