It’s happened again. Another broker-dealer has decided to exit a channel, leaving advisors to ponder their next move. Stifel Financial recently announced that it will sell its independent brokerage unit, Stifel Independent Advisors, to Equitable Advisors, effectively ending its run in the independent space.
That means roughly 120 advisors, many of whom built their businesses under Stifel’s banner, now face a crossroads:
Do they go along with the plan and find themselves at a new firm they didn’t choose?
Or do they step back and see what the broader market holds?
A Familiar Story, A New Opportunity
We have little doubt these advisors are already in high demand. Their phones are likely ringing off the hook with calls from internal recruiters and competing firms eager to get the first bite at the apple. It might feel like a nice ego boost amidst the news that the culture they carefully adopted or adapted to has shifted underneath them.
Still, this is a moment to pause. Take a breath. Step back. Whatever phrase works for you. Because what you decide in the coming weeks will shape your career for years to come.
Three Things to Keep in Mind
- You are in the driver’s seat of your own career.
The firm made its decision, now it’s your turn. You control the next chapter, not the other way around. - You are desirable to a lot of firms.
Quality independent advisors are in short supply, and demand is strong. Firms large and small are competing to attract talent with better technology, higher payouts, and meaningful transition support. - Your next move is a long-term decision.
While it’s tempting to react quickly, especially when recruiters are eager to make things easy, this is not the moment for speed. Take the time to explore all your options before you commit.
Simply put, you are a free agent.
You didn’t ask for this, but the ball is in your court.
Go Along or Move On, But Make It an Informed Choice
For some advisors, joining Equitable may turn out to be the right move. The firm offers size, stability, and resources that could complement how you already serve clients. The key is to make sure that decision is yours, not one made for you by circumstance.
Don’t Navigate This Alone
If there’s one piece of advice we can offer to those 120-plus Stifel advisors, it’s this: find a transition consultant. It’s the only way to guarantee you’ll receive unbiased guidance and access to the widest range of options and offers, including Equitable if it proves to be your best fit.
Working with a transition consultant won’t cost you anything, and it won’t impact your eligibility for transition bonuses or packages. What it will do is ensure you make an informed, strategic move that aligns with your long-term goals and client experience.
At 3xEquity, we take the time to understand your business, your clients, and what matters most to you in a new partner. From there, we’ll secure multiple offers, organize meetings, coordinate technology demos, and manage the entire process, all at no cost to you.
You’re a free agent. Make your next move count.
Click here to get started or call (855) 491-2910 to schedule a confidential consultation.
