In this episode of Zephyr’s Adjusted for Risk Podcast, host Ryan Nauman sits down with Tom Prescott, co-founder and managing member of Advisory Services Network. They discuss the hottest topics in wealth management such as mergers and acquisitions, the decision to sell your practice, and the latest trends including technology, AI, and evolving client expectations. Tom shares his insights on building a successful practice, compliance, identifying and managing risks, and the impact of private equity in the industry. They also explore the future of financial advising in the wake of AI advancements. Tune in to gain valuable knowledge from this thought-provoking discussion and learn how to navigate the complexities of the wealth management space.
Learn how Zephyr can help Financial Advisors make their practice more efficient here.
Learn more about Advisory Services Network here.
00:00 Introduction and Welcome
01:07 Meet Tom Prescott
03:39 Trends in Wealth Management
12:28 Challenges for Smaller Advisory Practices
25:07 Selling Your Book: What It Means and When to Consider It
31:45 The Role of Private Equity in Wealth Management
36:53 AI in Wealth Management: Tool or Threat?
40:41 Conclusion and Contact Information
