- Weighing All Your Options
- Evaluating Your Current Situation
- Preparing for a Better Future
There comes a time in all advisors’ careers when they question where they are and start thinking about what life might be like if they were to transition to a different firm — and for some advisors, this question may come up more frequently or is one they are currently pondering. Chances are that the chorus of the 1982 song by the Clash, “Should I Stay or Should I Go” might be bopping around in their heads as they weigh the pros and cons of making a move.
There’s no cookie-cutter solution for making a move. Something that works for one advisor, doesn’t necessarily work for another. But don’t let that deter you. Deciding to make a big move all comes down to understanding what the individual advisor is looking to achieve and then determining whether the support they’re receiving from their broker-dealer will help them accomplish their goals. If you are not sure about your current home, maybe that same chorus is echoing in your head right now. If so, working with a transition specialist, like 3xEquity, can help you easily weigh your options and find the firm that best fits your needs and plans for growing your business.
As you start thinking about whether you should stay or go, take the time to evaluate your current situation and ask yourself the following questions:
- Is my current broker-dealer helping me accomplish my goals?
No matter what your goals are, they’re an important part of the work you do and help define your success. You want to make sure your broker-dealer is playing a role in helping you find that success and take your business to new heights. If they’re inhibiting you from accomplishing your goals by not offering the right support or services, it’s time to find a new place for your business.
2. Is my broker-dealer providing me with superior services that allow me to spend more time with my clients?
More often than not, advisors will get into the industry to make a difference and help people lead better lives. Having the proper services from a broker-dealer can make all the difference in the time you’re spending with your clients. Superior services allow you to focus on your clients and their needs instead of being bogged down with practice management and back-office tasks.
3. Am I still finding opportunities for growth?
Most advisors are always on the lookout for ways to grow their business and reach new levels of success. A significant part of growing your business is staying competitive with new products, cutting-edge technology, and innovative marketing. A good broker-dealer will not only help you stay ahead of the curve when it comes to these fronts but will also help you identify new opportunities for growing your business.
4. Does my vision still align with my broker-dealers?
You’ve put a lot of hard work into building up your business over the years, and during that time you’ve set forth a vision for your business based on your values and core beliefs. When your vision aligns with that of your broker-dealer, success and growth are pursued enthusiastically as a team. But if there’s a mismatch in your visions, oftentimes, it can lead to a strained relationship. Over time, visions and core beliefs can evolve, shift and change among advisors and broker-dealers alike, making it important to regularly check-in to see if they still match up.
5. Does my broker-dealer provide succession assistance?
If the past few pandemic-stricken years have taught us anything, it’s that it’s never too early to be preparing for retirement and putting a plan in place. Finding a broker-dealer that helps with succession planning could be one of the best reasons for a move — and one that could come with significant financial benefits.
No matter where you stand on staying or going, 3xEquity is here to help. As your transition specialist, we’ll be your sounding board, helping you decide what move is best for you, your business, and your clients. At the end of the day, if you decide your best option is to stay where you are, there’s no risk to you. With our free service, you remain 100% anonymous while exploring all your options.
The time is now to start considering if you should stay or you should go. Visit 3xEquity.com to get started — we’ll secure you offers from leading national and regional broker-dealers in just a few days!
Get started by completing the form below.