You know what they say about timing? Well, plenty, probably, but among them is now an idyllic time – the best in years, in fact -- for financial advisors to bolt one firm for another, according to Mindy Diamond, founder and CEO of Diamond Consultants, according to diamond-consultants.com. It originally appeared on thinkadvisor.com.
So, why now, you might ask? Diamond says quality advisors are receiving transition packages “at real high water marks.” She added that it’s a “real sellers market” where advisors are “more likely [to] find [their] version of utopia versus five or 10 years ago.”
Okay, that can be persuasive.
Now, compensation aside, financial advisors with an eye making a change also are keen on “freedom and control,” said Diamond. Autonomy, she continued, in squarely in their wheelhouse.”
And there’s more, she noted. A burgeoning number of options are on the plate for advisors eyeing parting ways with large firms. Among them: aligning with “boutiques” that offer freedom and control, more opportunities for those with entrepreneurism on their radar to start RIAs of their own
That said, tempted though you might be, before delver deeper into a potential job switch, consider a few things, advises vantageinpact.com.
- Thoroughly Review the Expense Structure Details
- Upfront Bonus (Loan) - Proceed with Caution!
- Develop a Comprehensive Proforma to Compare and Contrast Firms
