Preparing for Exploration: 10 Practical Tips to Conduct a Strategic Due Diligence Process

A conversation with Louis Diamond

We talk a lot about the expanded industry landscape—and how, ultimately, an advisor has much more to consider than ever before.

As such, there is tremendous value in periodically conducting due diligence – whether you’re thinking of moving or not – if for nothing more than to become familiar with a host of options that likely did not exist even just a few years ago.

Yet with optionality often comes added confusion—leaving the potential for those who embark upon exploration feeling more overwhelmed than enlightened.

But we find that when due diligence is performed in an organized manner – and with strategic goals in mind – many advisors often walk away with much more than knowledge of the opportunities available to them. These advisors gain a greater sense of clarity in terms of their own goals as well.

Contrary to popular beliefs, conducting due diligence need not result in advisors changing firms or models. When done properly, the exercise may determine that they are indeed in the right place for their business—enabling them to do so armed with greater awareness and a renewed sense of commitment to both their clients and business.

Louis Diamond joins this episode to break down 10 tips based on decades of experience in guiding advisors through the due diligence journey. A “checklist” that is by design a strategic method to help you avoid overwhelm and make the most of your valuable time.

Listen in—and be sure to download the companion worksheet below.

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Conducting a Strategic Due Diligence Process: 10 Practical Tips for Financial Advisors
The worksheet discussed in this episode, designed to serve as a checklist for anyone preparing to embark on an exploration process.

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