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Articles by Trent Gain
Planning for a Successful Transition to a New Firm
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. You have undoubtedly heard stories about brokers changing firms who experienced everything from a minor disruption in revenue to an all-out career catastrophe. While you cannot anticipate every event, there is one thing you can do: Plan your work, and work your plan.
How Changing Firms Impacts a Broker’s Book of Business
Determining whether the firm you are leaving and the firm to which you are going are governed by the Protocol is a critical first step. Lists of signature firms can be found online; getting that information will help you plan for transitioning clients and their accounts without creating legal and financial liabilities.
Don't sell your soul for a large transition package
In the 16th century book, Faust sells his soul to the devil, Mephistopheles, in exchange for 24 hours of tutelage in black magic. It was a decision he would later regret. As a financial adviser in today's world, you may be "tempted" with very attractive offers to move your practice from your current home to another firm. But before accepting any offers, consider the following so you may avoid the fate of Faust.
Hiring Remote Workers Can Reduce Advisors’ Cost
Paperwork: no doubt one of the biggest hindrances to any professional. In the financial services industry, the administrative requirements inherent to our line of work are considerable, and for those who do not have administrative support, it can be detrimental to the growth potential of their business.
Hiring Remote Workers Can Reduce Advisors’ Cost
Paperwork: no doubt one of the biggest hindrances to any professional. In the financial services industry, the administrative requirements inherent to our line of work are considerable, and for those who do not have administrative support, it can be detrimental to the growth potential of their business.
How to Retain Your Clients, and Your Sanity, When Switching Firms
3. Determine how the new paperwork will be created and disseminated to your clients. This is where your new firm’s transition team or staff at your OSJ branch should come in. Meet with them and share your strategy for your move, allowing their expertise to suggest the best methods for you to create and deliver new paperwork to clients. 4. Don’t do it alone. Even the Lone Ranger had help. This is too big of an undertaking to take on alone.
How to Retain Your Clients, and Your Sanity, When Transitioning to a New Firm
After careful consideration and due diligence, you’ve decided to change firms. Your excitement about moving may be tempered by what lies ahead — transitioning your practice. Whether you have undergone a transition previously or not, it’s safe to assume that most advisors view this as no small undertaking — and it’s not.
How to Retain Your Clients, and Your Sanity, When Switching Firms
After careful consideration and due diligence, you’ve decided to change firms. Your excitement about moving may be tempered by what lies ahead — transitioning your practice. Whether you have undergone a transition previously or not, it’s safe to assume that most advisors view this as no small undertaking — and it’s not.
Financial Advisors: Avoid These Marketing Mistakes
Marketing guru Joe Chernov once said, "Good marketing makes the company look smart. Great marketing makes the customer feel smart." As a financial advisor, your marketing plan may make the difference between your business thriving and your business stagnating. However, in a push to increase the bottom line, many advisors have lost their focus on helping clients feel as if they are an honest, polite guide who can provide the directions to solving their problems.
What to do when your broker-dealer gets acquired
You've heard rumors circulating for some time now that your broker-dealer may be merging or outright acquired by another firm. Then, speculation becomes reality — the firm has just been sold. What do you do now? Once you have received the official word of your firm's impending future, you'll have a multitude of questions: What, when, and how will things change? Anticipate FAQs that will be distributed, but do not rely on those alone.
The 4 Pillars of Successful Client Events
Certainly one of the most prevalent ways to thank your clientele for their business and promote new business opportunities for your practice is to host the ever-popular client appreciation event. We have all hosted enough of these events to know that some are more popular than others. But why is that? Was it the theme or the outing itself that made it successful?
The 4 Pillars of Successful Client Events
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the bottom of any article. July 5, 2017 The 4 Pillars of Successful Client Events
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