10 things I learned at the fall 2010 Tiburon CEO Summit
Chip Roame puts wirehouses, new regulations and the economic downturn into perspective
Jeff Spears
I agree with Mr. Roame that a Wall Street firm will spin off it’s salesforce. Embedded in that statement is the reason why I think it will happen. Top Wall Street advisors have transitioned from being salespeople to being advisors. Clients don’t want to be sold and Wall Street’s cost structure doesn’t allow them to support advisors vs. salespeople. They can realize value however from spinning off their saleforce while they are still “locked-up” in recruiting and retention deals!
Sounds like a great conference.
Maria Marsala
I concur Jeff. I’d add that producers are becoming more and more entrepreneurial and as such the wirehouse model is too controlling.
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Tiburon Strategic Advisors
Consulting Firm
Top Executive: Charles Roame