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Podcast

Independence for Financial Advisors

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

Posted by Mindy Diamond

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:

  1. How to determine if a move is warranted.
  2. What to consider if there’s still time left on a note or if a move will mean leaving behind substantial unvested deferred comp.
  3. What typical post-transition portability looks like.
  4. How senior advisors should weigh a retire-in-place program vs other options.
  5. What next gen advisors need to consider when senior partners are considering their firm’s retire-in-place program.
  6. What the top destinations are for advisors who’ve moved recently.
  7. How a Protocol move differs from a non-Protocol move.
  8. How clients are responding to moves away from firms with “big brand cachet.”
  9. Why advisors move from their current firms when they’re in growth mode.
  10. 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.

Podcast: Play in new window | Download (Duration: 37:30 — 42.9MB) | Embed

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Next Gen Advisors Are Questioning Whether “Inheriting a Book” is Really Worth it
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If you’re interested in receiving a copy of the self-assessment mentioned in this episode, click here to email Mindy.

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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    WHAT OUR LISTENERS ARE SAYING…

    • Your podcast helped me a ton during my due diligence. There is no replacement for hearing from others who were successful leaving the wires. You are doing great things for the industry.

      Rory O’Hara
      Founder, Senior Managing Partner – Ausperity Private Wealth
    • A fantastic bundle of wisdom from one of the very best Curators of all things Wealth Management.

      Jim Dickson
      Founder - Sanctuary Wealth
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      Founder, Miracle Mile Advisors
    • I didn’t realize what I could do until I heard what other advisors were doing. Then week after week, it was like the gaps were filled in. Without it, I wouldn’t have had the confidence to go independent. Even after transitioning, I still can’t wait for Thursday mornings to hear the latest interview.

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      Robert Harris
      Senior Wealth Advisor, Avidian Wealth Solutions

     

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