Industry Update: Answers to the Top 10 Questions Advisors Ask When Considering Change

A conversation with Louis Diamond Advisors who are considering a change of firms or models often have a lot of questions—and they should. Because the reality is no decision this big should be made without digging deep and looking closely at how one’s goals align with that of either their current firm or another firm or model they might be thinking about. This episode tackles the 10 questions we get most frequently from advisors—and dispels some of the myths and misperceptions that often stop them from realizing their true potential. Listen in as Mindy and Louis share perspectives from both sides of the table on: How to determine if a move is warranted. What to consider if there’s still time left on a note or if a move will mean leaving behind substantial unvested deferred comp. What typical post-transition portability looks like. How senior advisors should weigh a retire-in-place program vs other options. What next gen advisors need to consider when senior partners are considering their firm’s retire-in-place program. What the top destinations are for advisors who’ve moved recently. How a Protocol move differs from a non-Protocol move. How clients are responding to moves away from firms with “big brand cachet.” Why advisors move from their current firms when they’re in growth mode. How to decide if it’s better to partner with another team or go solo. The truth of the matter is that there are often as many questions to ask as there are advisors who ask them. Yet the answers provided in this episode are likely ones that most advisors – even those for whom change may be well down the road – will find helpful and thought-provoking. Related Resources Stuck in Place: How Merrill’s CTP Has Senior Advisors Right Where the Firm Wants Them Advisors who accepted Merrill’s ironclad succession agreement are now realizing how stuck they really are—serving as a cautionary tale for those who have yet to sign on. Read-> Next Gen Advisors Are Questioning Whether “Inheriting a Book” is Really Worth it Rather than just signing on the dotted line of their firm’s retire-in-place plan, next gen inheritors (and their senior partners) are hitting the pause button and striving to be more educated consumers. Read-> A Wake-Up Call for Wirehouse Advisors: Why Many are Re-Assessing the Status Quo Firms make it easy to stay put for the entirety of an advisor’s career, yet many are feeling “uncomfortable” with that notion—worrying that what got them “here” may not get them “there.” Read-> Resurgence in Wirehouse Recruiting: Are the Tides Shifting? After a hiatus, wirehouses seem to be back in the game—and some in a really big way. Read->   Also available on your favorite podcast app and other media sites.