For many advisors, the end of the year is the ideal time to make the leap to a new broker-dealer. The clean break provided by the turning of the calendar is appealing, offering tangible (and often tax-driven) talking points for clients. When combined with exciting new opportunities, advanced technology, and enhanced product choices, the case for a transition can seem ironclad.
But if you’re one of those advisors in the final stages of making a move, now might be the perfect moment for a gut check—a brief pause to ensure you’re on the right path.
Here’s what you should consider before sealing the deal:
- Am I moving towards something or away from something? It’s important to understand the true motivation behind your move. As 3xEquity founder and CEO, Jeff Crosby, highlighted in a YouTube conversation with AdvisorHub’s Tony Sirianni earlier this year, understanding your “why” can make all the difference. Are you genuinely excited about the new opportunities and growth potential, or are you simply looking to escape frustrations at your current firm?
- Will my clients be better served on the other side of this transition? Ask yourself if your clients are likely to experience the same or better service and offerings at your new firm. At a minimum, the move should be lateral, but ideally, it should unlock new possibilities for both you and your clients.
- Did I thoroughly evaluate multiple options?
One offer isn’t enough to know if you’re making the best decision. Most advisors review 2-4 offers before deciding. If you’ve only received one, how can you be sure it’s the right fit? This is where 3xEquity comes in—we can help you secure multiple offers quickly and anonymously, ensuring you have the full picture before committing. - Am I maximizing my transition package? Is the deal you’re about to sign truly the best offer available? Transition packages can vary greatly, and without a consultant in your corner, you might leave money on the table. 3xEquity can help you evaluate your package, ensuring you’re maximizing your potential.
A Brief Pause Can Pay Off Big
A gut check at this stage won’t disrupt your year-end timeline, but it will give you peace of mind that you’re making the best possible move for yourself and your clients. Taking a moment to reflect now can prevent regrets and second-guessing down the road.
Need assistance with your gut check or want to explore additional offers? Schedule a free consultation with the team at 3xEquity today. We’re here to help you find the best fit—and the best deal.
