Pershing Assists Advisors Going Independent
Pershing LLC is launching a new practice management program to assist wirehouse advisors who want to join or establish an independent registered investment advisory firm, those who want to join or create a broker-dealer firm, or advisors who want to establish a hybrid firm using a combination of fee-based and commission practices.

Advisor in Transition, the new practice management program by Pershing, a subsidiary of The Bank of New York Mellon Corporation, is designed to help advisors make the transition to other affiliation models. Tools are provided to help advisors select the appropriate business model, establish corporate structure and staffing, and select the right technology.

Assistance is provided through to help advisors evaluate their options, and it enables them to consult with industry experts. The Business Model Evaluator, which will help advisors in making the transition to the proper new setting, was created in collaboration with Moss Adams LLP.

Advisor in Transition also provides confidential access to specialists who can answer questions about compliance, financing, marketing and business practices. Wirehouse advisors also will be able to use Pershing's ValueAlliance program, which offers preferred pricing for third-party firms and consultants.

Detailed guidebooks are included that help advisors through the process of going independent, and an interactive financial modeling tool generates profit and loss and cash flow projections, determines optimal revenue models, provides compensation benchmarks for staff and shows typical expenditures for technology, operations, compliance and office space.

Additional information can be obtained by contacting [email protected].

New Advisors Receive Technology Assistance
Advisors who have decided to go independent can receive assistance in a wide range of technology issues through a new consortium, Independent Advisor Technology forum at

The new service offers advice from firms specializing in document management, office management, portfolio accounting, performance reporting, investment policy statements, asset allocation, industry-related forms and marketing. The service also features workshops and Webinars.

FPA Offers Best Practices Tools
The Financial Planning Association is releasing a new tool to help members conform to the CFP Board Standards of Conduct that went into effect January 1.

The FPA Best Practices Task Force developed a check list for compliance requirements for a number of transaction scenarios and an initial financial planning engagement that financial planners will encounter on a routine basis. The check lists are designed to clarify requirements in light of increased concern about fiduciary liability.

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