The Whys Of Why Not

  • Completing Proper Due Diligence
  • Client Retention Concerns
  • Finding Real Greener Grass


Almost every advisor reaches the point in their career where they’ve outgrown their current situation and need to move on in order to make further strides. While deep down they may know it’s time for a change, for a few different reasons, advisors choose not to take this critical growth step. We want to shed some light on these reasons, so you can make the best decision when it comes to your own unique situation.  

In 3xEquity’s 2022 Advisor Survey, which is being released soon, one of the most telling topics that we address is the main reasons why advisors ultimately decided not to make a move, even after doing their due diligence and exploring their options. The reasons speak to the inefficiencies of taking the DIY route when looking for a new broker-dealer and support the idea that working with a transition specialist should be seriously considered, if not acknowledged as the superior route for advisors that truly want to make the growth step.

This year’s survey also included advisors who ultimately did not switch and these were the top three reasons for not making a move, and here’s why working with a transition specialist, like 3xEquity, could help. 

  • I didn’t feel enough would change with the new broker-dealer.

51.2% of respondents who didn’t ultimately make the move felt that not enough would change with their new broker-dealer to warrant the move. Even after doing their due diligence on a move and looking into potential broker-dealers, they didn’t see enough evidence to say that making a move would be worthwhile. 

But how much deep digging did they do? How many broker-dealers did they interview? Were they asking the right questions to differentiate between potential firms? Working with 3xEquity means that you get up-to-date data and information on firms you’re considering, so you can feel confident that you’re getting a true inside look at what life at the firm would be like. We also know how to distill your unique needs and align them with the broker-dealers we reach out to for offers. With our experience and expertise, we also know what questions to ask to highlight whether the changes you are looking for are present with the new group you are considering.

  • I was concerned about my clients making the move with me. 

Every advisor has this concern when deciding whether or not to switch broker-dealers, after all, your clients are the heart of your business. Our report shows that 32.6% of advisors listed concerns over their clients following them as their main reason for not making a change. But the reality is, your clients trust you, not the name on the door. If you’ve put in the work to earn their trust and build strong relationships, then chances are they’re going to make the move with you. 

According to our survey, the majority of our survey respondents were able to move over 85% of their AUM to their new broker-dealer. At the end of the day, your clients want to work with you—our job is to find the broker-dealer that is the right fit for both you and your clients so you can make the move with confidence and conviction. 

  • The grass wasn’t greener elsewhere. 


This will always be a risk when you choose to explore your options and see what else is out there, especially if you take the DIY route. You may already be in a good, great, or best spot for your business. But that doesn’t mean you shouldn’t consider making a move. Knowing your options is half the battle.

Part of our job at 3xEquity is to help you determine whether a move is the right step at all. In some cases, it won’t be, but you won’t know for sure until you let us help you take an informed look. We’ll help you get down to the nitty-gritty details to help determine whether changing firms is the right move for you and your business. And, with the costs for our services being covered by the new broker-dealer that you select to move to, there is no expense to you to see all the shades of greener grass that are out there.


At the end of the day, you can always come up with reasons as to why now isn’t the time for a move or why you’re against making a move. But the truth is, working with a leading transition specialist, like  3xEquity, can help make the process easy and ensure that you end up with the best new home for your business. Our goal is to help you find a broker-dealer that fits all your needs and can help take your business to the next level. Start putting your fears behind you and explore what options are out there with 3xEquity. 

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