Over the past few years, there’s been a strong focus on the movement toward independence and breaking free from wirehouses and broker-dealers to opt for the RIA route. Headline after headline touts this rush towards independence and the so-called, great migration of advisors leaving their big-name firms for RIAs. But is that just a storyline?
Remember, with those headlines comes all the money that RIAs are spending to try and lure advisors in and recruit them to join their independent firms. While the offers can be tempting, it’s important not to get blindsided by the dollar signs and see what lies behind the money. Is it really all it’s cracked up to be? As industry-leading Transition Specialists, 3xEquity sees beyond the headlines and offers a powerful perspective so advisors can find the right fit and not be overly influenced by headlines and big paydays.
In fact, despite the allure of independence and the money being thrown an advisor’s way, our 2022 Transition Survey shows that the same industry stalwarts still remain on top. Of the advisors surveyed, 57.7% moved from a broker-dealer to another broker-dealer, while 19.2% moved from a wirehouse to a wirehouse. Contrary to the industry news cycle, only about 11% made the jump from a wirehouse or broker-dealer to an RIA.
With most advisors still looking to move to a new broker-dealer when looking to make a switch, 3xEquity is the resource they need to find the best new home for their business. With our experienced team keeping a constant finger on the pulse of the latest deals, hybrid offers, and payouts, we help advisors explore all their options. We help you look past the headlines and truly find out what’s best for you.
Our successful transitions are based on two important factors—the knowledge we provide advisors to make an educated decision and the confidence they gain so they can ask the tough questions and negotiate the best deal. 3xEquity’s successful transitions also are devoid of two important factors—the enormous time spent by advisors taking the DIY route and the out-of-pocket costs associated with making a search, as our fees are covered by the new firm that you select to call your home.
In just a few days, we can secure you offers from top national and regional broker-dealers—all while you stay 100% anonymous. From there, we’ll help get meetings set up and provide you with key questions and talking points to bring up when interviewing potential firms. As you narrow down your list, our team of experts will walk you through the latest data and information, so you can feel confident you’re making a well-informed decision. Once your choice has been made, we’ll help you negotiate the best deal possible.
The headlines about independence are out there, but the broker-dealer route still stands tall for advisors making a move. Start exploring all your options with 3xEquity today.