RepInfo Center
Holiday Prep for Advisors Going Into 2025
As the holiday season unfolds, it’s natural to reflect on the past year and look ahead to the next. For financial advisors, this time of year often brings a unique opportunity: the chance to evaluate whether your current broker-dealer is truly the best fit for your practice and clients. The idea of making a change
Financial Advisor Strategies for a Trump-Era Economy
With the return of a Trump administration, financial advisors and broker-dealers might experience an economic and regulatory environment favorable to growth. Potentially relaxed regulatory standards, favorable tax policies, and anticipated economic growth could create unique opportunities to improve client portfolios and optimize business strategies. Here’s how financial advisors can make the most of these changes
Exploring the Pros and Cons of Broker-Dealer Mergers
As the financial services landscape evolves, broker-dealer mergers have become increasingly common. Merging two firms can offer rapid growth, cost savings, and talent acquisition, but it also brings complexities, from regulatory hurdles to cultural integration challenges. In this article, we’ll dive into broker-dealer mergers’ benefits and potential drawbacks and explain how RepRecruit can support your
Mastering the Stress of a Broker-Dealer Transition
If you’re considering a move to a new broker-dealer, you’ve probably heard the horror stories. From non-compete agreements to the scramble of transitioning clients, it can feel like you’re trying to thread a needle while juggling chainsaws. However, with the proper preparation, transitioning your book of business can be not only smooth but also one
Succession Planning for Advisors: Why It’s Never Too Early to Start
In financial advisory practices, the phrase “it’s never too early” applies in many ways, but nowhere is it more crucial than succession planning. The reality is that none of us are getting younger (not even your clients), and building a robust plan for your business’s future ensures you leave it in good hands while maximizing
Upfront Transition Deals: Why Advisors Should Look Beyond the Big Check in a Changing Interest Rate Environment
As a financial advisor, deciding to switch broker-dealers is one of the most critical moves you can make in your career. Over the past few years, you may have seen jaw-dropping transition deals, with upfront offers as high as 250% of trailing 12-month production. But, as the economy shifts, so do these deals, and it’s
The Top Technologies Used by Leading Broker-Dealers: What Financial Advisors Need to Know
The Top Technologies Used by Leading Broker-Dealers: What Financial Advisors Need to Know Why Technology Matters in Broker-Dealer SelectionTechnology has become a cornerstone of success in the fast-paced financial advisory world. It’s no longer enough to have a solid relationship with your broker-dealer or competitive payout rates; the technology tools they provide can be the
How Your Broker-Dealer’s Back Office Can Make or Break Your Practice
Your broker-dealer should be more than just a service provider—they should be a partner in your success. They should be there to support you, celebrate your wins, and help you navigate the challenges. And that all starts with a rock-solid back office. As a financial advisor, you’re managing not just portfolios but lives. You’re the
How Financial Advisors Can Legally Transition Clients Under California Non-Solicitation Laws
Leaving a broker-dealer to join another firm or go independent can be a significant move for any financial advisor. However, this transition may not always be smooth, especially if the original broker-dealer decides to take legal action over the advisor’s book of business. Understanding what to expect in such situations is crucial for any advisor
The Impact of Broker-Dealer Culture on Advisor Success
When financial advisors contemplate changing their broker-dealer, the focus often gravitates toward factors like technology, payout structures, and support services. However, one crucial yet sometimes overlooked aspect is the broker-dealer’s culture. The culture can significantly impact an advisor’s career satisfaction, client relationships, and overall success. In 2024, with ongoing industry consolidations and mergers, understanding and
The Evolving Landscape of the Broker-Dealer Industry in 2024
In 2024, the broker-dealer industry finds itself at a pivotal juncture, navigating through technological advancements, regulatory changes, and shifting consumer preferences. To understand this, it’s important to note that the financial services sector has steadily moved towards digitization and automation over the past decade. Broker-dealers have been at the forefront of this transformation, adopting new
Unlocking New Horizons: Why Financial Advisors Have an Advantage in Moving Broker Dealers Before the End of 2023
The financial advisory landscape is continuously evolving, and financial advisors are presented with a unique opportunity as we approach the end of 2023. The possibility of moving to a new broker-dealer should not be overlooked, as it can offer numerous advantages and open the door to a world of potential growth and success. Here, we’ll
Questions To Ask Before Joining A New Broker-Dealer
When considering a change in broker-dealers, financial advisors should ask essential questions to ensure they make an informed decision. Here are some key questions to ask: What is the broker-dealer’s reputation and track record? Look for information about their financial stability, regulatory history, and past disciplinary actions. Ask if they have any current or pending
Embracing Change: Financial Advisory Firms Seek New Paths Amidst Evolving Landscape
Embracing Change: Financial Advisory Firms Seek New Paths Amidst Evolving Landscape In a dynamic and ever-evolving financial landscape, even the most established institutions must adapt to meet their client’s needs and navigate the industry’s changing tides. In recent years, we have witnessed a significant shift in how financial advisory firms operate, with a growing number
Navigating Broker Dealer Sales: Preparing Financial Advisors for Potential Transitions
Navigating Broker Dealer Sales: Preparing Financial Advisors for Potential Transitions Broker-dealers play a crucial role in the financial industry by facilitating the buying and selling of securities on behalf of investors. However, broker-dealers’ landscape is dynamic, and occasionally, firms may undergo changes such as mergers, acquisitions, or even sell-offs. As a financial advisor affiliated with
Seeking a Broker-Dealer that Prioritizes Advisor-Client Interests over Nickel-and-Diming
Seeking a Broker-Dealer that Prioritizes Advisor-Client Interests over Nickel-and-Diming In the financial world, broker-dealers play a significant role in connecting advisors and clients, facilitating investments, and providing vital services. However, not all broker-dealers are created equal. Unfortunately, some have developed a reputation for nickel-and-diming their clients, prioritizing profits over the best interests of both the
Has Broker-Dealer Culture Shifted in the Winds of Consolidation?
Joining your existing firm due to the culture and people may have been one of the deciding factors in joining them. In today’s environment, the industry is shifting to the “bigger is better” model, and you may find yourself lost at your broker-dealer. The people you initially shook hands with, agreeing to partner with you
Planning a Broker-Dealer Change?
Planning a move soon? Research alternative broker-dealers: Begin researching and evaluating different broker-dealers that align with your business goals, values, and client needs. Consider product offerings, technology platforms, compliance support, compensation structure, reputation, and overall fit with your practice. We can help you make side-by-side comparisons of fees, payouts, and technology offerings confidentially on your
How to Leverage RepRecruit, LLC to Find Your Next Broker-Dealer!
How to maximize the assistance of a third-party recruiter like RepRecruit in finding the right broker-dealer… Understanding of your preferences Clearly communicate your preferences, goals, and priorities to our recruiters. Share your desired compensation structure, target markets, products/services you specialize in, geographic preferences, and any other factors important to you. The more specific you are,
Top ten things to do after you transition to a new broker-dealer
After transitioning to a new broker-dealer, here are the top ten things you should focus on: Client Onboarding: Ensure a smooth transition for your clients by promptly completing all necessary paperwork and transferring their accounts to the new broker-dealer. Keep communication channels open and address any concerns or questions they may have during the onboarding
10 Effective Strategies to Help Financial Advisors Grow their Book
Here are ten effective strategies to boost a financial advisor’s brand, client services and increase assets under management. Define and Target a Niche Market: Identify a specific niche market that aligns with your expertise and interests. You can tailor your services to meet their unique needs by focusing on a particular demographic or industry. This
How Can Financial Advisors Attract More Assets From Clients
Financial advisors can employ various strategies to attract more assets from their clients. Here are some practical approaches: Build Trust and Relationships: Building solid relationships based on trust is crucial. Advisors should prioritize regular communication, active listening, and demonstrating genuine care for their client’s financial well-being. By establishing trust, advisors can increase client satisfaction and
Best Fee-Based Custodians?
There are several reputable fee-based custodians available in the market. The best choice for you will depend on your specific needs and preferences. Here are some of the top fee-based custodians widely recognized in the industry: Charles Schwab Institutional: Charles Schwab offers a comprehensive custodial platform for independent registered investment advisors (RIAs). They provide various
5 Things Advisors Don’t Tell Their Clients About
While financial advisors have a fiduciary duty to act in their client’s best interests and provide transparent and honest advice, there may be some aspects of the financial industry that are not explicitly discussed with clients. Here are a few examples: Compensation Structure: Financial advisors may only sometimes fully disclose the details of their compensation
8 Ways a Broker-Dealer Can Help Financial Advisors Grow
A broker-dealer can help a financial advisor grow their business book by implementing several strategies and providing the necessary support. Here are some effective methods: Lead Generation: The broker-dealer can assist financial advisors in generating leads by providing marketing tools, technology platforms, and lead-generation programs. This may include access to client databases, targeted advertising campaigns,
How to Choose the Right Broker-Dealer
When choosing a broker-dealer, the right fit for a financial advisor depends on various factors that align with their individual needs, goals, and preferences. Here are some key considerations to determine if a broker-dealer is the right fit: Culture and Values: Evaluate the broker-dealer’s culture and values to ensure they align with yours. Consider their
10 pieces of advice financial advisors may forget over time:
Here is the top 10 “Don’ts” for financial advisors “Don’t assume that your clients understand financial jargon. Explain things in simple terms and ensure they fully understand their financial decisions’ implications.” “Don’t let your biases and preferences influence your investment recommendations. Always put your client’s interests first.” “Don’t overlook the importance of a comprehensive financial
How to Transition to a New Broker-Dealer Successfully
Here are some steps financial advisors can take to ensure a successful transition Review Contracts and Non-Solicitation Agreements: Before initiating the transition, thoroughly review your existing employment agreement and any non-solicitation agreements you may have signed with your current broker-dealer. Understand these contracts’ restrictions and obligations to ensure compliance during the transition process. Notify Clients
Top Wealth Management Solutions for Financial Advisors
Financial advisors can use several wealth management solutions to grow their asset base. Here are some of the top solutions: Envestnet Envestnet provides a comprehensive suite of wealth management solutions for financial advisors, including access to a wide range of investment options, portfolio management tools, research and analytics, and support for financial planning. Envestnet’s platform
Time to Move to a RIA Model?
Financial advisors may choose to move to an independent registered advisory model for several reasons, including: Increased independence: Independent registered advisors have greater control over their business. Advisors can make decisions that are in the best interest of their clients without being constrained by the policies and procedures of a broker-dealer. Ability to offer a
Growing a Team of Advisors
Attracting other financial advisors to join your team can be a great way to grow your business and expand your reach. Here are some tips to help you attract other advisors to join your team: Define your value proposition: Before attracting other advisors to your team, you must define your value proposition. What makes your team
Maximize Your BD Relationship First
Maximizing your broker-dealer relationship can be crucial to your success as a financial advisor or broker. Here are five ways to make the most of your broker-dealer relationship… Communicate regularly: Communication is critical to any successful relationship, especially for your broker-dealer relationship. Regularly communicate with your broker-dealer about your business goals, challenges, and opportunities. This
PRACTICE VALUATION 101
A financial advisor can use several methods to value their practice. Here are some of the most common ways: Multiple of Revenue: This method involves multiplying the practice’s annual revenue by a specific factor, ranging from 1 to 3 times revenue. The multiple used depends on factors such as the size of the practice, the
IT’S A WHOLE NEW BROKER-DEALER WORLD!
Broker-Dealer consolidations are the new normal in today’s investment news headlines. Eight to ten years ago, a broker-dealer merger would make headline news, and advisors would exit as quickly as possible to a new B/D. However, today’s marketplace is much different, and broker-dealer selection is somewhat limited. Instead of jumping ship, many advisors conform to
WHAT CAN THE BIBLE TEACH ABOUT RECRUITING FINANCIAL ADVISORS?
Seems like a lot! Considering that in less than three years Jesus became the most influential person in all of history – and He only had 12 disciples with one dropping off for the wrong deal, (Judas) Many will say that mixing Christian views into business is wrong; however, as a believer in Christ, I
FEATURED IN THE TOP 100 MAGAZINE FOR 2018!
Dave Reyna is the chief executive officer of RepRecruit, LLC, one of the top recruitment firms for independent financial advisors, wirehouse representatives, and highly-ranked broker/dealers across the United States. Dave’s career history is a testament to his hard work and resourcefulness. From his first role in the finance sector, to his current appointment, he has continually
WIREHOUSE ADVISORS TRANSITIONING TO INDEPENDENT BROKER-DEALERS!
The big four, Merrill Lynch, Wells Fargo, Morgan Stanley and UBS are now losing more reps to independent broker-dealers than ever before. In the past, wirehouse advisors felt the need of a big brand like the bull at Merrill Lynch or the stagecoach at Wells Fargo to gain trust and assets, but that is far
100% UPFRONT & 100% PAYOUTS!
Sound unreasonable? Yes, because it is! It is possible to get one or the other but not at the same time. If anything, payouts are going lower and lower every year. However, there are more important issues looming over the Broker-Dealer industry, and it’s not the end of the world as predicted for September of 2017,
WHO ARE THE BEST BROKER DEALERS?
Who are the Best Broker-Dealers? It’s a question that many financial advisors will be asking themselves at one point or another in their careers. Based on recent news, it might be something you’ll be asking yourself soon with Department of Labor rulings, FINRA compensation disclosures, and a potential swarm of broker-dealer mergers and acquisitions
FINDING A NEW BROKER DEALER IN TODAY’S ECONOMY?
Finding a New Broker Dealer in today’s economy? Better call a divorce attorney… and a marriage counselor it’s just about the same! The perfect storm is brewing and nobody really knows where to turn. Smaller boutique broker dealers having been a growing trend but now many of those are being forced to consider their own
CHANGING BROKER DEALERS….. AGAIN??!!!
Nothing is more frustrating than having to call clients for another signature because you either forgot paperwork, your broker dealer didn’t let you know of a new disclosure form or your assistant didn’t give you the right application before you drove 3 hours to a client meeting except… changing broker dealers again! With the introduction of the new Department of Labor- Best Interest Contract – coming up in 2018,
A BROKER/DEALER STORY – TRUTH OR URBAN LEGEND?
Back in the early 2000’s there was a TV series I used to like called Freaky Stories where every episode started with: “This is a true story, it happened to a friend of a friend of mine” The show stretched common urban legends and the point was that some stories are so absurd, so improbable, they couldn’t
SHOULD I STAY OR SHOULD I GO?
Even thinking about leaving a Broker Dealer creates anxiety with many financial advisors. “Should I stay or should I go now? … If I stay there will be trouble – if I go it will be double.” – The Clash That may be true for many turning points in your life and it clearly holds
DEAL OR NO DEAL? YOUR NEXT BROKER/DEALER OFFER AWAITS YOU
The television show Deal or No Deal became a big hit in 2005 with 26 numbered boxes paired with 26 models poised to reveal the contestant’s “deal” to the world. It was a show that involved little to no intellectual capital to win. Choose one box and decide how stubborn or greedy you wanted to be. Keep
