A Goldilocks Moment In Wealth Management: Five Reasons You Should Move Your Book Now!

Advisors are always looking for the perfect set of circumstances as they consider transitioning to a new firm. Market fluctuations, legal hurdles forced upon them by their current firm, personal and family circumstances, team dynamics, choosing the right new landing spot, the strength of client relationships, and an educated guess as to the percentage of assets will easily transition with them should they ‘hit the bid’.

Several of those dynamics can’t be controlled, but others are currently in the absolute sweet spot. And you should capitalize now if you are considering the potential value of a move and what it may hold for the next decade of your career. Here are five clear advantages in play today:

  1. Markets remain at all-time highs and client balances are swollen. At a minimum, you are getting some credit for that performance, and maximum you are their hero. Either way, the markets are offering you a ‘red carpet of asset transfer’ moment. Take advantage.
  2. The changes and challenges of exiting a firm (or joining one) that isn’t a member of the broker protocol have largely been figured out. There are several legal experts in the securities law area that can offer you a clear roadmap for leaving Morgan Stanley or UBS to join a more advisor friendly firm. A year ago there was a dense fog that covered the non-protocol firms with respect to the fall out of a move. Now, the opportunities and challenges are well known.
  3. Recruiting deals for Tier 1 advisors are at or near all-time highs at places like Ameriprise, Wells Fargo, Dynasty and others. Those publicly known ‘rich’ deals push other firms to sweeten deals if you have a desirable book and asset mix. Even after the fiduciary and protocol exit scares, deals remain at all-time highs.
  4. Transition specialists are much easier to negotiate at whatever firm you join. These are specialized services that the firm hires on your behalf to manage fast-moving paperwork and asset transfer is the quickest and most proficient way possible. These types of transition service firms have been around for about 15 years, and have perfected their craft. With the assistance of robust client balances, a seamless transition managed by extra staff for 60 days gives you another edge in any transition.
  5. Most of the financial crisis ‘hair on the dog’ has been trimmed and swept away. No longer are narratives connected to the 2008/09 crisis a critical data point. Wirehouse firms stand on their own at this point, regionals have been the darlings of the recruiting scene for a half-decade, and the specter of independence has been refined to the point of near perfection. All that remains is for you and your team to decide what is your perfect temperature of porridge. You know, Goldilocks.


Whatever the decision looks like and where you may be considering landing, the climate for a transition is as strong as it’s been for a decade. The financial crisis narrative worked for many in the wake of some organizations looking like they were burning down and others executing fire sales to bank-owned entities. Today, the transition on-ramp is littered with gumdrops and lollipops. Very, very few obstacles to a successful transition currently exist.

 If you are close, the time is now.  Click here to begin.

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