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 […]
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
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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
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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
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
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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
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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
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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
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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
Has Broker-Dealer Culture Shifted in the Winds of Consolidation? Read More »
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
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