Think back to those exciting days when you were faced with the decision of where to attend school. Did you want to go to a big state school like USC or the University of Michigan or something on a smaller scale? And you probably had a checklist of things that the schools needed to have. For some, it may be the sports programs or location, while for others, it’s a certain education program or small student-teacher ratio. No matter what the case, everyone has that non-negotiable list when it comes to making important decisions.

The same goes for Advisors. Finding a new broker-dealer can be a lot like deciding on which school to attend. It’s a decision that isn’t taken lightly and requires a lot of thought and careful consideration. And much like the school decision, advisors should have a list of necessities or non-negotiable items that their next broker-dealer must have. After all, with the ever-changing nature of the industry, advisors have come to expect more than just clearing and custody from their broker-dealer. 

We’ve put together a list of 5 Make It or Break It requirements all advisors should expect from their broker-dealer.

  1. Business Growth Support:

    Your broker-dealer should provide you with the means necessary to help you bring your business to new heights. Whether it be through marketing, recruiting, or providing access to different forms of capital, you want a broker-dealer that has the means and will do what it takes to take your business to the next level.

  2. Succession Planning:

    If COVID-19 has taught us anything, it’s that it’s never too early to start considering the future. For advisors, that means the possibility of retirement. And when the time comes, you want to make sure that all of the hard work you’ve put into your business pays off, and your business ends up in the right hands. Your broker-dealer should be by your side to ensure that this happens with valuation and succession planning assistance.

  3. Top Tier Technology:

    This is an absolute non-negotiable item for any broker-dealer you consider. Having top of the line technology can help give you a key advantage over your competition. And having a broker-dealer that is keeping up with the latest technology and making the investment to stay ahead of the technology curve shows their dedication to their advisors and progressive thinking.

  4. Support Team:

    Being in the financial services industry can be stressful enough, but if you are unsure of the level of support you will receive when you need it most, it can be downright unnerving. Having a group of people that you can depend on for help can make all the difference. No matter what the problem is, knowing that someone has your back and is capable and available to help is essential.

  5. Practice Management:

    We all know how it feels to get bogged down grinding through tedious paperwork, compliance with FINRA, and other back-office functions. They can be big, time-consuming tasks that keep you from focusing your attention on your clients. Every advisor should look for a broker-dealer that not only handles the aspects of practice management, but helps you maximize your efficiency.

No matter what your reasoning is for wanting a new broker-dealer, 3xEquity is here to help. Put together your list of non-negotiables, and we’ll help you find the perfect broker-dealer for you and your business. From there, the choice is yours to make, but we’ll be your sounding board throughout the whole process.

Get started today by clicking here. 


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