InvestmentNews, a leading source of news, analysis and information for the financial advisory community, featured a column by Nachman Norwood & Parrott’s Bob Nachman. The column, “Top Lessons Learned During a Breakaway Transition” explains the transition to a Registered Investment Advisor (RIA) for others in the wealth management industry considering this shift.
The column details the efforts NNP took to understand the nuances of this transition and how they created a plan that kept the perspective of their clients in mind. With this preparation, followed by long hours and hard work, Nachman notes his team was successful “However, as a result of the planning and effort of the whole team, we ended up transferring approximately 90% of our assets and revenue within the first 20 days — a feat our custodian considers to be the fastest it has ever moved a practice of our size.”
To read the entire article, visit the InvestementNews website.