How To Keep Your Transition On The Down Low

  • The Importance of Staying Anonymous
  • How to Keep Your Move on the DL 
  • The Power of Support & Guidance

When it comes to making a big move, advisors know that keeping your search for a new home under wraps is critically important — but that’s hard to do without having the right contacts and inroads. How do you get the word out that you want to make a move and keep it from your current relationship? That’s where we come in and why 3xEquity keeps your identity completely anonymous until it comes time to sit down and meet with a potential broker-dealer. Remember, when a change in firms is looming, keeping a high level of confidentiality until it’s time to resign from your current firm plays a major role in avoiding legal action and any trouble that might stem from your move. 

Staying under the radar regarding a move is easier said than done. One small misstep can lead to complications and add more stress to a process that is already stressful enough on its own. Making sure you keep the move confidential can go a long way in making the big move go as smoothly as possible — here’s a few steps to take to be sure you do just that:

Mums the Word 

Excitement is understandable, but the fewer people that know about your upcoming switch, the better. You should only let those that are vital to the move in on the secret. To better ensure that the word doesn’t get out before it is time, it’s best to keep the move from family, friends, coworkers, etc. You want to minimize the risk of someone accidentally spilling the beans and that means only letting a select few people in on it.

Go Incognito

With all the moving pieces, it can be hard to keep track of it all and it’s easy to accidentally get something pertaining to your transition sent to your work email or office. The best practice for keeping the two separate is to have a personal email address associated solely with your transition and one that doesn’t use your name. Make sure you don’t use any company technology to check this email or complete any tasks related to your move. It’s best to keep all communication to your personal accounts and spaces, and that includes making sure all transition documents are sent to your home address. 

Look to the Pros for Help

From a legal standpoint, transitioning can pose risk for advisors, especially if their firm isn’t a part of the broker protocol. It’s important to know what information you can and cannot take with you when you leave and what communication is allowed with your clients. Be prepared and hire a lawyer that specializes in transitions and breaking away. They can give you advice on proper steps to take and can ensure you understand what is expected of you. As the saying goes, better safe than sorry. Getting legal advice can go a long way in staying compliant throughout the entire process. 

 Staying anonymous while switching broker-dealers can make or break the process. If the word gets out too soon, it could make the transition a lot more difficult than expected and may even cause sticky legal issues. Luckily, partnering with 3xEquity means you stay completely anonymous up until it comes time to meet with potential broker-dealers. Additionally, we will be by your side every step of the way — serving as your sounding board, setting up meetings, and giving you talking points and questions to bring up with broker-dealers.

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