September is here, but despite the warm weather in some areas you can see the shifts…the shelves in retail stores are already lined with Halloween decorations and costumes. Before we know it, every time we walk into a store, we’ll be engulfed in a sea of Christmas decorations. If the retail sector has taught us anything, it’s that it is never too soon to be planning and preparing for the future. The same holds true for advisors looking to make a move in the new year.
Preparation is key to superior performance in all endeavors and when it comes to making a career move the stakes are even higher. As industry-leading Transition Specialists, 3xEquity knows that for advisors looking to make a move in 2023, now is the time to start putting in the work to make the transition as easy and smooth as possible — and we can help.
We all know that getting organized goes hand-in-hand with being well prepared. Just think of all the coordination that goes into that sea of Christmas promotions and product offerings. Advisors that get organized well in advance have the best chances of capitalizing on the opportunities of the future. So, let’s start with some critical steps to take now in order to lay the groundwork for your successful future move.
Create a Checklist + Timeline. Making a move doesn’t just happen overnight, in some cases it can be a lengthy process. Putting together both a timeline and checklist of tasks that need to get done ahead of time is a great way to ensure that you stay on track and keep organized. Your timeline should center around the date on which you want to leave your current firm and each task should be assigned a deadline surrounding the date you’ve set.
Complete Your Research + Due Diligence. There are a lot of rules and regulations that pertain to making a move. Making sure you do thorough research and due diligence can help make sure that you stay compliant throughout the process and avoid any type of lawsuit. On top of staying compliant, proper research and due diligence on potential new firms can be critical in determining if a firm is a good fit for you, your business, and your clients.
Identify + Gather Relevant Information. While there will be restrictions on what information you can and cannot take with you to your new firm, you should be sure you identify and gather all information that is allowed. Create a spreadsheet and fill it with information that you already have and fields that list the information that you still need. Having a centralized location where you can store important information that can come with you will be beneficial in keeping you on track.
Put Together a Client Information Form. You’ve got your spreadsheet ready to go, but chances are there are still a few gaps that need to be filled. The best way to do that is by preparing a client information form to distribute to clients once you are allowed to. The form should include information that will be needed to open a client account at your new firm and any information that you can take with you that you don’t already have.
There’s a lot that needs to get done before a move becomes official, and just like retail holiday décor and promotions, it’s never too early to be prepping and laying out your plans. It may seem overwhelming, and there’s no denying just how difficult it can be, but working with a trusted partner like 3xEquity can help you navigate the road and make the process go smoothly.
3xEquity works with advisors to streamline the transition process, providing guidance, resources, and support the entire time. We’ll help make sure you’re ready to start 2023 off on the right foot. Fill out the form today — a brighter tomorrow is just a click away.
