Move or Wait?

This is a question at the top of every advisor’s mind that is thinking about moving to independence. Should you go now or later? Should you wait for the market to recover or bolt now? Let us give you some perspective from personal experience. We moved firms in November of 2001, two months after 9/11. It was a scary and difficult time in our country. But when we asked our clients to transfer with us, we brought 95% of our clients with us. The resounding feedback we got from our clients, "We are with you, not the firm."

Today is no different. Whether your clients have admitted it or not, they are worried about the brokerage firm you are working for. A move to independence at this point will, in all likelihood, be met with a great sigh of relief from your clients.

And by the way, your current firm is very likely a member of an industry agreement known as the “Protocol for Broker Recruiting.” In a nutshell, it is an agreement that allows brokers to move from one member firm to another member firm without having any monetary or other liability to the firm the broker left as long as the terms of the Protocol are followed. It just so happens that our firm is a member of this Protocol as well! Broker Protocol PDF

Are you part of a team?  

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