Three Steps to Take When Your BD Has Been Acquired

M&A activity in the advisor space has reached a feverish pace of late, leaving many advisors who are part of a firm being acquired with a critical question: “Do I go to the acquiring firm, or do I explore other options?”

While the tendency may be for an advisor to think they must, or should, go as part of the package, the reality is the acquisition may have created a significant inflection point in his or her career.

Such opportunities are arising with increasing frequency. For example, LP Financial just acquired Crown Capital Securities $6.5 billion of advisory and brokerage assets. Expected to close in early 2024, 260 financial advisors now face the aforementioned question. Another example was CAPTRUST Financial Advisors stated intention to buy Southern Wealth Management, which manages more than $2.3 billion in assets and employs 62 advisors. The SWM acquisition was CAPTRUST’s third deal in Texas this year, emphasizing a trend that shows no sign of abating.

In a statement about the LP Financial acquisition, Phyllis Paulsen, executive vice president of Crown Capital said what many other firms and their advisors must feel when being acquired. “This was an emotional and very personal decision for the firm.” She did add that she feels LPL was the “ideal choice to help our advisors take their businesses to the next level in the future.”

That may be true. But Crown Capital’s advisors shouldn’t take Paulsen’s word for it. And that’s the point.

“There are three things Crown Capital and SWM advisors should be doing right now,” said Chris Stacey, the COO of 3xEquity, the industry leader in facilitating career transitions within the wealth management space. “They should be weighing the advantage and disadvantages of the move, and not necessarily taking leadership word for it. They should be assessing their own wants/needs/goals in order to determine if this move aligns with their own goals. Finally, they should be getting offers from other firms. We offer a proprietary tool on the 3xEquity web site, which allows them to anonymously field lucrative offers.”

The bottom line is advisors and other employees at a firm being acquired have an opportunity. Take advantage of it.

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It’s one of the most important—and personal—questions a financial advisor can ask. Whether it’s frustrations with admin fees, limited platform flexibility, or just a gut feeling that you’ve outgrown your current firm, the decision to move shouldn’t be rushed. The right time to leave isn’t just about market timing—it’s about life timing.

If you’re weighing your options, we recommend this quick read: The Best Time for a Move—a blog and podcast episode that walks through key signals it may be time to explore a transition.

There’s no one-size-fits-all answer. Going independent offers more control, higher payouts, and brand autonomy—but with added responsibilities. Wirehouses provide built-in infrastructure, brand recognition, and turnkey support—but often come with more restrictions and fees.

The real question is: Which model makes the most sense for your business goals and lifestyle?

To make a confident decision, you need to understand the economics behind both paths. Start by securing transition offers from top firms—independent and wirehouse—so you can compare side-by-side.

Get Your Offers in Hand

Our services are 100% free to financial advisors. We don’t charge you a dime. If you decide to make a move, the new firm pays us a finder’s fee—similar to a recruiter. But unlike recruiters, we’re not tied to any one firm, so we work to find your best fit, not theirs.

Want the full breakdown? Check out our blog post: How We Get Paid

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