Contrary to what many advisors believe, switching from one firm or model to another does not happen overnight. Ensuring a transition is accomplished with the least amount of disruption, the highest level of portability, and the greatest success requires a good amount of planning—for advisors and teams at all levels.
Of course, there are several steps we take our advisory clients through when they think about change: educating them on the latest trends, helping them evaluate economic models and understanding their enterprise value, guiding them through the process of thinking about their goals and vision. conducting a strategic due diligence process, and the act of comparing and contrasting their current firm with the options on the table.
But this is different. There are actions you can take now to prepare your business for a potential move—whether you're just in the curiosity stage or deep in due diligence.
They are actions that are as important as our download on the topic, Top tips for setting up your business for success Years before a movehas become one of the most popular tools in our advisor resource arsenal.
In this episode, which serves as a “deep dive” companion to the tool, Mindy and Louis break down each tactic, offering additional tips gleaned from over two decades of experience helping our advisory clients through successful transitions, including :
- How to improve book portability.
- Why you should create a secure document repository.
- What to look for when it comes to your staff and their roles.
- How to handle the legacy broker dealer business.
- Why you might consider moving away from proprietary solutions.
- Even more!
It's the guidance you need to prepare you, your team and your business for change and improve your business processes – whether you end up making a move or not, you'll be ready to move in whatever direction you need to .
So listen in to find out what you can start doing today.