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Three telling conversations about where the RIA business is headed

In which RIABiz editor Brooke Southall talks with a recent widow in search of an advisor, the recruiting director of HighTower and the CEO of Focus Financial and gains a snapshot of the RIA arena, circa summer 2011

Author Brooke Southall July 14, 2011 at 2:22 PM
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Mike Papedis: HighTower has had five 'eighth-inning' conversation in the last two weeks with with wirehouse teams with a combined $9 billion of assets.



Focus Financial








risk management


Sentinel Benefits & Financial Group

Penny Mandell

Penny Mandell

July 14, 2011 — 5:58 PM

Your comments about the recently widowed Jane really resonated with me. I have recently developed a series of educational workshops for women so that they can improve their financial literacy in a no-pressure setting. My group is Financially Fluent Females (f3) . Through divorce or death many women will face sole responsibility for managing their money and many are simply unprepared and overwhelmed because it was always “handled” for them. The market meltdown has forced many to pay more attention,but ideally they should not be forced to react to crises and should be more proactive in their approach. This can be difficult since many advisors talk over their heads rather than trying to foster understanding. Additionally ,especially with widows the advisor usually had a relationship with the husband and never cultivated one with the spouse. The workshops have been gaining in popularity which has actually lead to accounts, but I also work with women on how to have more productive relationships with their current advisors. I host regular meetings locally in Sun Valley and also Portland and Seattle . Women over 50 represent a powerful demographic so advisors may want to rethink how they deal with women.

Brooke Southall

Brooke Southall

July 15, 2011 — 3:16 AM


I deleted your comment because when I emailed the address you left, you didn’t seem to exist. You’re welcome to post again but don’t leave a fake email. We need to have some sense that you stand behind what you write.


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