- Key Information to Gather
- Go with Your Instincts
- Leave No Stone Unturned
There’s so much that runs through an advisor’s mind as they start to question if it’s time to make a move elsewhere — and that doesn’t let up once the decision has been made! It’s easy to get caught up in it all as you prepare to transition and find a new home for your business. That’s why it’s so important to make a plan to help ensure you don’t overlook key areas of information as you look into potential new firms.
With endless possibilities of questions to ask and information to learn, we would like to help you focus in on some critical areas — so here are 4 key areas you’ll want to be sure you explore as you meet with new firms.
Path for Growth
More often than not, growth is a big factor in an advisor’s decision to leave their current firm. They feel they’ve hit their plateau and need new support, technology, or practice management to help them take their practice to the next level. As with any new firm, you’ll want to gauge how they will help you grow. Do they have a more efficient way to help bring you growth? What will they bring to the table to help you get there?
Culture Compatibility
When it comes down to it, you’ll want the inside scoop on the firm’s culture to make sure it’s a good fit for what you’re looking for. Are they financial advisor focused? What do the firm’s values and leadership look like? How many layers of management are there? Getting a sense of how things run at the firm and ensuring it aligns with your core beliefs and strategy is critical for the growth and wellbeing of your business.
Depth of Capabilities
As you look at various potential broker-dealers, you’ll want to ensure that each one can fully support your business. Many advisors have their own niche, and in some cases that may not be widely supported by all firms. Take a hard look at their platform to verify that every part of your business is accounted for and supported.
The Brand and History
Every firm has a brand that they’ve built over the years and in our industry, there’s been known to be a blemish (or larger issue) or two associated with one firm or another. You want to make sure that the name brand positively resonates with many of your clients and prospects. You don’t want a tarnished brand affecting your business. Take it upon yourself to look into their story and past to make sure it’s a brand that you can get behind and is worthy of your business.
When it comes down to decision time, if you’ve put in the time and effort to doing your homework to make an informed decision, just go with your instincts. They served you well this far in your career. However, if you want some advice and someone to help you find the right new home – we are here for you. After all, you want the decision to feel right and not leave you questioning if you made the right decision or not.
3xEquity is here to help you make the decision that’s right for you. In a matter of days, we can get you multiple offers from the leading national and regional broker-dealers around. On top of that, we’ll help you with the vetting process, providing you with questions to ask and up-to-date data on any firms you’re considering.
Click here to get started today.
