The Secret Report - September
Pete Secret
Founder and CEO @ Spartan Advisory Partners | Mergers, Acquisitions, and Transitions
Hi everyone, this is Pete Secret with your industry update for the month of September.
We've arranged some articles that I think you would find interesting and compiled some research & recent advisors moves to keep you up-to-date.
Invest
$20 Million Fund Gives Investors a Taste of Soaring Market for Rare Whiskies and Fine Wines:
The Cask100 Fund, a collaboration between Winston Art Group and Artory, aims to invest $20 million in rare whiskies and wines, targeting a 15-20% return. With a minimum investment starting at $10,000, the fund will diversify across producers and regions, and use blockchain for asset verification and potential future digital trading.
High-Net-Worth Highlight
Bentley’s 2023 Continental GTC Speed: A Cheetah in a Lion Suit:
The Bentley Continental GT Convertible, also known as the GTC Speed, offers a luxurious and high-speed driving experience, with a standard MSRP of $317,000. The car features a 6.0-liter, twin-turbocharged W12 engine with 650 horsepower, and can reach speeds up to 208 mph. Despite its high price tag, the car is often compared favorably to rivals like the Ferrari Roma and the Mercedes-Benz S65 AMG.?
Collect
Chicago Auction House Launches in New York, Selling Art, Watches, and Photographs:
Hindman auction house is launching its first New York sales in October, featuring collections from late entrepreneur Glen de Vries and Pennsylvania collectors Judith and Philip Sieg. The auctions, expected to realize at least $4.5 million, aim to offer a diverse range of art, watches, and luxury items.
Growth
Tapping into Pre-Liquidity Event Opportunities on LinkedIn:
Liquidity events, be it IPOs, mergers, or sales, are pivotal financial moments for senior officers and equity-holding employees. Here's how you utilize LinkedIn.
In essence, LinkedIn can be more than just a networking tool—it can be a strategic resource to identify high-potential leads.
Research
September Research from Top Firms:
Morgan Stanley - Stock price momentum often sways investor sentiment, observes Mike Wilson, Chief Investment Officer at Morgan Stanley. Despite the bullish tendencies influenced by positive price shifts, the primary growth in stock prices this year has been due to heightened valuations, especially evident in the S&P 500's forward price earnings multiples. While early-year predictions warned of a recession, its non-occurrence and favorable price action in April-May bolstered optimism. Yet, this optimism was chiefly fueled by a select few Mega-cap growth stocks. As the second quarter's earnings season concluded, there's a growing market skepticism regarding the consistent economic resilience seen earlier this year. Given the prevailing uncertainties, Wilson advises a defensive growth strategy, especially as September approaches. Listen to the audio on Wilson's market insights here.
Firm Highlight
领英推荐
LPL:
What sets LPL Financial apart is its staunch dedication to fostering a culture of forward-thinking. By prioritizing heavy investments in next-gen technology, all-encompassing training modules, and ceaseless opportunities for professional advancement, LPL equips advisors to navigate the dynamic financial terrain confidently.
Advisors under the LPL banner benefit from cutting-edge market analysis tools, entry to elite industry research, and a vast array of investment alternatives. This positions them to extend exceptional services to their clientele. LPL Financial's commitment to staying apace with the industry's evolutions guarantees that advisors are always poised to deliver outstanding results and regularly exceed client aspirations.?
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Deals & Models
Current landscape:
W-2 wirehouses & large regional firms are offering lucrative deals to attract top talent, with >300% of trailing twelve production & Forbes/Barrons teams getting >325% depending on many factors.
If considering going independent, expect 30-100% of annual production. Not all firms pay upfront.
If you're inherently entrepreneurial, consider starting or joining an RIA. While no upfront pay may be offered, the enterprise value built can offset the opportunity cost of taking a check.
Want to see what a deal looks like for your business? Click here to see what specific offers look like for your unique situation.
Marketplace
Noteworthy moves:
Every month we compile a list of some recent advisor moves that we would like to spotlight. Here are some examples:
Morgan Stanley Scoops Up $3.5-Mln Merrill Team in Arizona
As a record-setting heat wave shows signs of cooling off in Arizona, Morgan Stanley’s recruiting is still heating up as it scooped up a Merrill Lynch team that produced $3.5 million in annual revenue in Phoenix, according to a source familiar with their practice.?
Merrill Lifer With $130-Mln Book Joins LPL’s Employee Channel
LPL Financial has lured in another Merrill broker, this time to its burgeoning employee channel, Linsco, according to an announcement on Wednesday.
LPL Lands Merrill Quartet Managing $425 Million in Washington
LPL Financial LLC has scooped up four Merrill Lynch advisors in Federal Way, Washington who managed $425 million in advisory and brokerage assets, according to an announcement in July.
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