What A Good Caddy Can Teach Us About Our BD Relationship

After the final stroke to secure the green jacket as the winner of the 2021 Masters Tournament, Hideki Matsuyama walked off the green with tears in his eyes while his caddy, Shota Hayafuji still on the green put the pin back in the hole, removed his hat and bowed after the historic win.

All of the top golfers are accompanied by equally great caddies. And most will admit their caddies are an important part of their playing ability and credit them as part of the reason for their success. This makes it all the more important for a pro golfer to find the right caddie, one that supports them, knows their game, and is there for advice when needed.

Much like the importance of a caddy to a golfer, the same holds true for a financial advisor and their broker-dealer. Partnering with the right broker-dealer can be monumental and lead advisors down the path to greener pastures and greater success. And it’s not a decision that financial advisors should take lightly; after all, not all broker-dealers are cut from the same cloth, and finding one that is the right fit for you is most important.

So, as you consider making a switch, don’t rush it and partner up with just any broker-dealer. It’s a decision that deserves the time, research, and thoughtful consideration so you can make the best choice. You also want to make sure you’re getting the whole picture and understand any obstacles or hazards when it comes time to address your final decision. 

With that said, here are 3 things to ponder when considering a potential new broker-dealer:

  • How do they handle changes of course?

No one likes change, but the truth is, it’s a natural part of life. And in our world today, the financial sector is an ever-changing industry. Especially when taking the continuous evolution and advancement of technology into consideration. You want a firm that will anticipate your evolving business needs and be proactive when it comes to adapting to new regulations and technology. As you meet with potential broker-dealers, ask how the firm assesses and implements change. 

  • Do they have the means to drive the growth of your business?

You want to have a sense of the kind of support you can expect from a broker-dealer. Do they have the technology to keep you ahead of the curve? How will they help you navigate compliance and keep up with other back-office technology changes and processes? What strategies have they implemented to help their advisors run their businesses more efficiently? Having a broker-dealer that gives you even an extra few minutes to focus on your clients instead of being bogged down by practice management can play a huge role in the growth of your business.


  • Does their way of conducting business line up with yours?

Ideally, the broker-dealer you partner with will share your vision and values when it comes to your business and how it’s run. As you look into finding a new broker-dealer, think about the way you do business, and determine what you want from your relationship with a broker-dealer. Do you want more freedom to provide your clients with creative solutions to their problems? Do you want a broker-dealer that gives you the autonomy to make business decisions? No matter what ranks at the top of your priority list for a broker-dealer, make sure your vision aligns with theirs. 

3xEquity is here to help you navigate the process of switching broker-dealers. We’ll secure you multiple offers in a matter of days all while you stay 100% anonymous. From there, we’ll help you find your ace, the perfect broker-dealer to help you take your game to the next level and achieve new heights of success. Get started today by clicking here. 


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