A conversation with Louis Diamond…
Overview
It’s common for financial advisors to share that they are “uncomfortable” thinking about a move when the markets are unsettled. But how does an advisor know if now is the right time to consider change? That answer, and more, is explored in this episode.
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About this episode…
Over the last several months, advisors have been busy managing client expectations as the market has taken them unwittingly on a wild roller coaster ride. But as one advisor said on a previous episode in this series, this is when advisors really show their stripes and earn their pay.
As of this recording, the markets have taken a bit of an upswing. Yet tomorrow could be a totally different story. And this uncertainty is an inconvenient truth of the wealth management business. That is, some days it’s up, other days it’s down.
Still, it’s common for advisors to share that they are “uncomfortable” about considering a move when the markets are unsettled. But that begs the question:
Are you certain that the market is not an excuse for staying at a firm that does not allow you to serve clients best and grow your business?
As the saying goes, timing is everything—and that’s even more true in an unsettled market. So how does an advisor know if now is the right time to consider a change?
In this special Industry Update, Mindy Diamond and Louis Diamond explore the answer to that question and more, including:
- A review of current movement and how it compares to other turbulent periods.
- The types of questions advisors need to ask themselves to assess if now is the “right time” for them.
- The potential benefits of moving during a choppy market.
- Why some advisors should NOT consider a move now.
- And if there is a “best time” to make a move.
Of course, serving your clients to the best of your ability in any market environment should always be the primary focus.
But there are some compelling reasons why market factors need not necessarily preclude you from at least considering whether or not the ability to support them is best accomplished at your current firm. Listen in to learn more.
Related Resources
Why You Should – or Shouldn’t – Consider Changing Firms in a Down Market
While there is never a “perfect time” to make a move, there are often perfect reasons to do so. Read->
Industry Update: If Business is Good, Should You Still Consider a Move?
Many advisors are coming off their best years ever, driven by increased client demands and a run-up in the financial markets. Yet movement is at record-breaking levels. So why are they disrupting momentum and taking-on the risk and hassle of a move, to change jerseys or break for independence when things are good? Listen->
Financial Advisors: What’s The Risk of Staying Put?
Many advisors feel that changing firms or models is just too risky. But what they may not realize is that there’s also a risk to staying put. Read->
The Real Cost of “Waiting it Out”—Why Holding Out for the “Ideal Time” to Make a Move May Not be the Best Idea
For many advisors, it’s momentum vs what could be “a chance of a lifetime.” Read->
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