Our sister publication Financial Planning recently published a story on the secrets of study groups for RIAs, highlighting a few study groups that have provided their members with support for and advice on ongoing issues. Members love them and jealously guard their participation – restricting membership to “invitation only.”
“If you run a company, you can’t really talk to others in the company about the problems of running a company, because you’re the only one with that problem,” Steve Lockshin, chairman of Los Angeles and Potomac, Md.-based Convergent Wealth Advisors, told Financial Planning. “That’s why study groups are so valuable.”
Study groups are a fantastic tool used by professionals in all industries. But what about advisors at wirehouses and large regional broker dealers? Have you started a study group or do you think one would bring benefits to you and your peers? Tell us what you think – comment below, tweet us at @OnWallStreet, and/or discuss via our LinkedIn group.