For what could be a host of reasons, your firm has an opening. Perhaps a facelift in executive leadership?

Well, you could try Indeed,

First, though, ask yourself: should you fill the gig from the inside or out? Sure, if you stick with your internal resources, he or she already knows the company – and your business, not to mention its clients and team, according to selectadvisorinstitute.com. That said, some from the outside could arrive with fresh ideas.

Factors to keep in mind when considering going outside:

Internal employees may lack the leadership ability

It’s time for a shake up

Removing top talent from the competition

As for remaining inside:

Save time and money

Your firm is already on the right track

Retention and morale

During the first quarter of the year, Avantax reported more than $228 million in newly recruited assets, according to globenewswire.com.

That’s in light of sustained interest on the part of independent financial professions and accounting firms intent on expansion.

Seem to you as if ESG’s lost a bit of its zest? You could just about be granted a mulligan for feeling that way, according to ey.com.

Then again, you might believe that, among some leaders, the rapid momentum’s taking five.

Here’s the bottom line: when any landscape altering thought process toward business like ESG surfaces, it can find its apex faster than a speeding bullet. Looking at the bigger picture, however, the mission critical relevance of sustainability and ESG in modern business and the corporate juice it sparked last season should be sent to separate corners.

A survey commissioned by Ernst & Young gauging the priority business placed on sustainability and ESG initiatives confirmed what many figured: ESG remains in the crosshairs of American execs. It also appears to pay dividends, heading every agenda.     

During the past year, investment decisions based on ESG factors hasn’t exactly been looked upon fondly, according to webforum.org.

Factors such as the Ukraine invasion and inflation have fueled the negativity.

No matter; sustainability investing decidedly will remain a thing, abetting the segue to a future that’s not only greener, but struts greater sustainability.

In an article for ETFTrends’ Direct Indexing Channel, James Comtois shared some thoughts from Vanguard executives about direct indexing. In essence, the company sees it as having a bright future and offering significant benefits in the terms of tax-loss harvesting.

With traditional ETFs, investors aren’t able to reap the benefits of tax-loss harvesting. However, direct indexing allows investors to get the benefits of an ETF like diversification and low costs, but they can also sell securities at a loss to offset taxable gains in profitable securities. Subsequently, the sold securities can be replaced with securities that have similar factors to maintain diversification.

These benefits also compound with more frequent scans. So, daily or weekly scans will lead to better outcomes than monthly or quarterly scans. Previously, there were constraints to more frequent scans as an advisor couldn’t monitor portfolios so frequently. But with automated, direct indexing strategies, these services are available to a wider swathe of investors. Overall, more frequent scanning can add between 20 and 100 basis points to a portfolio.

Finsum: Direct indexing offers specific benefits to investors especially when compared to investing in ETFs.

In an article for Seeking Alpha, Jussi Askola covered the aggressive buying of REITs by the Blackstone group and bullish comments from Steve Schwartzman and John Gray, who are the CEO and COOs of the Blackstone group, respectively. Their investment decisions are monitored due to their leadership of the private equity giant, and its successful long-term investing track record. Additionally, private equity groups are large owners of real estate, so they could have particular insight into the sector.

This is evident in public filings of REITs whose shares fell precipitously last year due to the rise in rates and weakness in real estate. The company has built up a portfolio of REIT assets, totaling nearly $30 billion. Essentially, the company sees a discrepancy between real estate assets in private and public markets with public markets offering more favorable valuations. 

And, it signaled on a recent conference call that it says more upside in other types of liquid real estate securities as other investors pull back from the asset class. And, they note that these opportunities present themselves in REITs that are exposed to strong sectors with no distress. One factor that may appeal to Blackstone is that many REITs currently have a nearly 30% discount to their market value. 

Finsum: Blackstone is being contrarian with its aggressive buying of REITs while most investors flee the sector.

In an article for SmartAsset, Rebecca Lake CEPF discussed the importance of a workable retirement plan for financial advisors. Many advisors spend their careers helping their clients achieve their financial goals, so they can retire in peace. Yet, they don’t apply the same diligence to succession planning for their own practices.

Instead, advisors should think about the ultimate outcome they want for their business and then work backward to create a plan to achieve that goal. Of course, the plan needs to have some flexibility built in as circumstances can change. But, an end goal is essential to ensure that all of your efforts translate into ultimate success. 

The next step is to have a rough estimate of the net worth of your business. This will help you understand how much your practice would generate in the event of  sale. In tandem with this, advisors should also ensure that their personal financial planning is on track in terms of retirement planning, disability insurance, life insurance, budgeting, etc.

Following this, you should be transparent about your succession planning with clients and employees or anyone else who could be potentially impacted. Employees want to have some sort of clarity about their careers and potential roles, while clients want to be reassured that they will be in good hands with a new management team. 

Finsum: Succession planning is an essential step for financial advisors especially as these decisions will have a major impact on clients and employees.