Uncategorized Archives - 3xEquity

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HighTower Capitulates: No Longer Advisor Centric, Exits Broker Protocol

And the ghost of Elliot Weissbluth as the former HighTower CEO rolls over in his grave. HighTower has just announced that it is exiting the broker protocol, limiting the movement of advisors in and out of its ecosystem, to focus … Read More

BILLIONS: Morgan Stanley Loses $6B Team To Dynasty

Whichever Morgan Stanley employee that came up with the idea that exiting the broker protocol would somehow lead to an uptick in retaining the firms largest and most profitable advisors needs to be fired. It’s not working. Via AdvisorHub, the … Read More

Wells Fargo Mess Continues

Wells Fargo doesn’t have any answers. As the body shots take their toll the brand remains badly bruised and bloodied, with advisors caught squarely in the crossfire. Just three years ago Wells Fargo was a paragon of virtue and stability. … Read More

Golden Handcuffs Have Turned Rusty At Morgan Stanley

Morgan Stanley walks to the beat of its own drum at the moment. As of today they are the only legitimate global investment bank/brokerage force left that can claim scale in sheer numbers and a ‘smorgasbord’ of investment banking products … Read More

The Age Of The Wirehouse Is No More; The Numbers Don’t Lie

A decade. Ten years later, the landscape is predictably different than what financial advisor veterans remember. In late 2008 and creeping into early 2009, names like Merrill Lynch, UBS, Morgan Stanley, towered over the wealth management industry with legions of … Read More

3xEquity Blog businessmen and business woman

Thinking Team Structure

During the early stages of their practice, most financial advisors work as sole practitioners. However, the ability of such practices to grow is limited by the advisor’s skill set and capacity as an individual. Many sole practitioners soon find themselves … Read More

A Three? The Truth Hurts!

Have you ever had one of your best clients gut punch you? Have you ever asked a question that you thought you knew the answer to and the response came back very unexpected? That’s what happened recently when we received … Read More

Preparation Sets You Up For Luck

I once heard Steve Ballmer, the former CEO of Microsoft, say “Not only do you need hard work, good timing, and passion, but you need some luck as well.” Last weekend I competed in Ironman Canada, my 21st Ironman Triathlon. … Read More

Have You Put Hay In The Barn?

In simpler times a barn full of hay was a sign the farmer had worked hard and was prepared for the challenges ahead. This weekend I’ll compete in my 21st Ironman Triathlon. That’s a 2.4 mile swim, 112-mile bike ride, … Read More

The Crash Finally Happened

The other morning I was out on my bike training for my 21st Ironman Triathlon. Going 30mph. Downhill. My front tire blows. My brakes don’t work. Here we go. It’s decision time – crash headlong into those mailboxes or go … Read More