PRW News & Information

Please use the link below to read PRW Associates' most recent Quarterly Client Letter and Investment Commentary:

Fourth Quarter - 2011

Al Frank Asset Management - "How We Are Navigating" - August 15, 2011

The above link is provided for your information only. As is provided by a third party, NFP Securities, Inc. does not endorse, nor accept any responsibility for the content.  NFP does not independently verify this information, nor do we guarantee its accuracy or completeness.

Market Volatility and Your Emotions - August 17, 2011

Recommended Reading for Youth Investing - Investing Library

Elliot Herman Cited in Consumers Digest - May/June 2011 - A Jump in Inflation

Peter Donohoe Earns CDFA Designation™  Press Release

Peter Donohoe CDFA™ - Planning Concerns of Divorcing Couples

Elliot Herman Cited in British Publication - "Fund Strategy" Magazine 2/8/2010

Elliot Herman Raises $2K for Jerry's Kids  Press Release

Bill Payne - Boston Business Journal Article

Please use the link below to read Bill's article regarding the importance of earning and maintaining client trust.  

BBJ Article

Elliot Herman Discusses Employer Buyout Packages

Elliot Herman was quoted in this Forbes magazine article. Elliot discusses the positive and negative impacts of accepting a employer's buyout package.

Should You Take A Buyout Package?

Elliot Herman - Media Citations  

Elliot B. Herman Named Partner of PRW Associates 

PRW Associates is delighted to annouce that Elliot B. Herman has been named a Partner of the Firm effective January 1, 2005. Elliot will lead the Asset Management Team.

PRW Associates Press Release.
 

Richard Renwick Elected to Babson College Board of Trustees

PRW Associates is delighted to annouce that Richard Renwick has been elected to the Babson College Board of Trustees. Rick is a graduate of Babson and has been very dedicated to the success of the college.

Babson College Board of Directors Announcement.


Richard Renwick Broadcasted Live on CNN

Richard Renwick appeared as a guest during the Friday, April 21, live broadcast of CNN's "Street Sweep" program.

Rick discussed trends surrounding the 10 Trillion Dollar Intergenerational Transfer of Wealth that is occuring in our country today. Along with the implications for investment portfolios, Rick shared his views on the overall impact this transfer will have on society in the years ahead.
 

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 There's Power in Numbers, But Choose Your Partner Wisely

Financial services firms can benefit from the right alliances. Ticker Magazine, September 2000  

By Richard A. Renwick, ChFC, MSFS, CLU   

The word on Wall Street is clear: Consolidation is the order of the day. Banks, insurers, brokerages, and money managers have been teaming up to gain synergies, lower costs, and share business. With the passage of the Gramm-Leach-Bliley Financial Services Modernization Act, we're going to see more partnerships between industry giants, and the lines defining the industry sectors will increasingly blur.

It seems everyone is getting into the act. Not only are brokers and bankers seeking to provide financial planning to the same clientele we've traditionally served, but even law and accounting firms have branched out, building on their relationships and expertise to compete with advisers. The whole world, it seems, wants to be in the financial advice business.

So, what's an independent adviser, or a small advisory firm, to do?

The answer may be: Consolidate, affiliate, or risk being trampled under foot. Consolidation doesn't just bolster the adviser's ability to compete through greater marketing muscle or financial strength. In many ways, it's also a matter of doing what's best for the client.

Above all, consolidating means maximizing clients' access to the best resources--not only products, but knowledge. The world has gotten more complex, and by having access to the expertise available in a larger organization, you have greater ability to serve your clients and meet their needs.

For example, my firm recently advised a high-net-worth family that was considering the purchase of an aircraft. My firm hadn't handled this type of transaction before. But thanks to a previous merger with a larger firm, we had access to the best practices of others and were able to provide a creative airplane-acquisition strategy with optimal tax benefits for our client.

In fact, this ability to provide client access to specialists on an as-needed basis can substantially help differentiate an advisory firm.

Moreover, as part of an extended organization, advisory firms can forge new relationships with product managers. In the past, advisers were restricted to selling only the products that were available to us. As part of a larger organization, advisers have the clout to ask manufacturers to develop products that meet our clients' specific needs.

My firm could have remained independent for several years. But by consolidating, we're now able to offer our clients expanded resources, and have positioned our firm at the front end of the curve as the industry accelerates its consolidation.

In choosing a partner, we spoke with many groups looking to pair with financial advisers and discovered they're not all the same. Many did not have a compelling business strategy for consolidation, other than combining a lot of firms' together and presenting them as one large chain. We chose an organization with a concrete vision of how it could help us grow and how it could share practices, while allowing us to maintain our autonomy and our own financial performance.

The ability to reap the reward for our own service was important to us, because despite the industry's move toward consolidation, there's still no substitute for the excitement and satisfaction of developing your own company through hard work and entrepreneurial motivation.