In Tough Times, Advisors Focus on What Will Bring Results

It is interesting to see how many indicators are pointing to a resurgence of the recognition of the importance of the advisor / client relationship. Advisors looking for work right now are turning away from large, transaction-driven firms in droves. In an interview this week, William D. Cohan, a former senior M&A banker on Wall Street and author of The Last Tycoons: The Secret History of Lazard Freres & Co., said:

"It is no coincidence {given the current economic meltdown} that the smaller, more-focused firms—the ones that are closer to their clients—are being flooded with resumes."

Advisors are going where relationships are valued. As a result, they will thrive, their clients will prosper, and the firms for which they work will grow– even in these tough times.