Top Reasons For Making A Move: Free Agency Edition

This time every year, basketball fans are on high alert to the latest deals, news, and buzz surrounding free agency. It’s the time when high-profile players take a hard look at their current team and decide whether it’s time for a change or if they’re determined to stick it out with their current team and work towards a championship next season.

As is the case during almost every free agency, this year some big names, such as Kevin Durant, are requesting a trade and looking for a change of scenery. There’s no saying what drives a player to want to make a move, it could be they’re looking for more success, a more lucrative deal, or maybe the team chemistry wasn’t jelling enough for them.

Like these basketball superstars, advisors might get to the point in their careers where they’re looking for a better deal and taking the steps to find a new home where they can win more business and get the support they need. While every advisor has their own rationale for wanting to make a big move, here are the top 3 reasons why advisors make a move.

Stern Compliance
FINRA has become increasingly stricter with broker-dealers, and as a result, that strictness has trickled down to the broker-dealer’s compliance team. More frequent audits and constant hindering of your marketing efforts and materials might just be the issue that pushes you to make the move. After all, you don’t want to be constantly looking over your shoulder and hoping that your efforts and materials make it through compliance in a timely fashion, or even at all. You want the freedom to tell your unique story without the red pen changing everything, so it sounds like everyone else pitch.

Change of Culture

Nothing stays the same forever, and if it does, that should be a red flag. But a culture change isn’t always a good thing, especially if you have a good thing going. Change in management, among other things, can lead to a culture change that doesn’t fit what you need for your business. Communication plays a big role in culture and if you notice that the chain of communication is breaking down or absent, it might be time to take your business elsewhere.

Better Service and Support
More often than not, we see better service play a role in an advisor’s decision to make a move. All advisors want a broker-dealer that provides adequate, if not superlative, support and when that support breaks down it’s normally a big red flag — one that will push an advisor to go elsewhere. As the industry continues to evolve and become more competitive, advisors will also want a broker-dealer that simply provides more state-of-the-art services to help them run their business more efficiently.

No matter your reason for wanting to pursue “free agency” and make a change, 3xEquity is here to help you find a new home for your business that fits your superstar potential. After securing you multiple offers in a matter of days, we’ll help you sort through your options, making sure your wants and needs are checked off by potential broker-dealers. Once your decision has been made, we’ll be by your side through the negotiation process, helping you get the best deal possible. Fill out the form below to get the conversation started on your next move.

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