Products February 11, 2010

Wells Fargo Advisors Introduces Succession Planning, Market Valuing System

Wells Fargo Advisors Financial Network, LLC, said it now offers a new program to help its advisers determine, build, and monitor the value of their practice.
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Wells Fargo teamed up with FP Transitions, a provider of equity management valuation and succession-planning services, to offer the Comprehensive Equity Management System (CEMS), which the firm said determines practice value and offers tools to build and stabilize practice value.

For example, the “EquityBuilder” benchmarking guide, available as part of the program, will compare an owner’s advisory practice with other independent practices to assist with goal-setting and business development.

“Independent business owners regularly ask for guidance in understanding how to value their business,” said John Peluso, president of Wells Fargo Advisors Financial Network, in a news release. “The Comprehensive Equity Management System is a comprehensive solution that will help business owners identify value of their advisory practice, plan for retirement, and position their practice for continued growth.”

Wells Fargo said advisers who participate in CEMS for at least three consecutive years are expected to be able to realize 100% equity in their practice when retiring or transitioning their practice to another adviser through FP Transitions without listing, sales, or transition support costs.

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Products February 11, 2010

Hartford Adds to SMART529 Web Site

The Hartford said it added new Web tools to help start a college-savings dialogue between financial advisers and their clients.
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The firm’s recent research of parents and grandparents who work with a financial adviser indicated that nearly a third do not feel “savvy” at all about investing, and more than half didn’t know how their 529 plans are allocated (see “Investors Rely on Advisers to Start College-Saving Conversation”). The Hartford said the results underscored the need for a better conversation between advisers and investors.

To help with the conversation, the SMART529 page on www.hartfordinvestor.com includes tools such as a Family College Savings Worksheet, which prompts investors to review their portfolio and to talk with their financial adviser about strategies for saving for college, according to The Hartford.

The site also offers a college-savings tip called “Things to Think About When Investing,” which investors can use during discussions with their financial adviser, and a SMART529 Calculator to help families estimate their future college savings costs.

“A financial adviser can help families set their college savings goals and build a plan that is tailored to their goals, timeframe, and tolerance for risk,” said Jeff Coghan, director of 529 plans at The Hartford, in a news release. “It’s also important that they evaluate their plan over time to ensure they’re staying on track.”

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