5 Most Surprising Issues Faced By Advisors While Teaming Up

Posted on February 12th, 2015 at 5:11 PM
5 Most Surprising Issues Faced By Advisors While Teaming Up

 From the Desk of Jim Eccleston at Eccleston Law Offices:

According to the first quarter 2015 adviser edition of The Cerulli Edge, forming and operating teams successfully can be a challenge for advisors when they are joining forces. The five most surprising challenges that advisors will face when teaming up are:

First, when there are multiple decision makers, the whole decision-making process slows down and can squash actual action.

Second, advisors who aren’t used to sharing administrative staff with other advisers should learn to share centralized resources. It can be especially troubling when advisers insist on holding onto their own specialized procedures.
Third, advisers who are used to doing everything themselves may have trouble delegating or sharing tasks. They need to learn how to accept assistance from their coworkers.

Forth, advisers may disagree about which areas of the business they should invest most in. Some may prioritize technology improvements, while others could be focused on business development and marketing. They must strike a balance in what they choose to invest in.

Fifth, advisers also need to think about whether their investment management philosophies and fundamental financial planning approaches will match or the arrangement may be more trouble than it’s worth.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Cerulla Edge, James Eccleston, Eccleston Law, business news, Investment News

Return to Archive



I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y


August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.

August 11, 2022
FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.