Advisers need to focus on long term to build value in a practice

11/14/2012 | AdvisorOne

Independent advisory firms tend to treat their business as a current source of income instead of concentrating on developing "real enterprise value," according to the Alliance for RIAs. As a result, such a firm's value will stagnate around the time the owner wants to exit the business. Long-term structural issues need to be addressed if an adviser wants to build value.

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