Many advisors are questioning whether now is the right time to switch firms, especially amid market volatility. While uncertainty can make timing feel risky, waiting for the "perfect" moment is often a losing strategy.

 Market turbulence can actually create opportunities, as clients seek reassurance and may be more open to discussions about better solutions. The key factor in a move isn't timing but whether a new firm offers better resources, technology, and support for clients. 

Working with a transition consultant can ease the process by handling logistics and securing offers discreetly. 

Finsum: Ultimately, the decision to move should be driven by the right opportunity, not market conditions.

The advisor landscape is shifting, with over 9,000 advisors changing firms in 2023, particularly within the RIA sector. Many advisors employed by RIAs—often non-owners earning a percentage of revenue or salary—are seeking greater autonomy, ownership opportunities, and better compensation. 

The rise of large RIA aggregators and increasing M&A activity have contributed to advisor dissatisfaction, as firms focus on efficiency and growth at the expense of individual autonomy. 

Advisors looking to transition have several paths, including joining another RIA, moving to a wirehouse or bank, launching their own firm, or affiliating with an independent broker-dealer. Each option balances control, compensation, and operational complexity, making careful planning essential for a successful transition. 

Finsum: As the RIA industry consolidates, firms must innovate their advisor value propositions to retain talent and remain competitive.

Target-date funds offer a hands-off approach to retirement investing by automatically adjusting asset allocations over time. These funds balance growth and security by shifting from stock-heavy portfolios in early years to safer investments like bonds as retirement nears. 

Named for the investor’s target retirement year, these funds simplify decision-making and are commonly found in employer-sponsored 401(k) plans. A key factor in choosing one is its “glide path,” which determines whether asset adjustments stop at retirement or continue for years beyond. 

While convenient, investors should compare expense ratios and investment strategies to ensure alignment with their risk tolerance. Three TDF funds to consider are: 

1. Vanguard Target Retirement 2045 Fund Investor Shares (VTIVX) – Expense Ratio: 0.08%
2. Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) – Expense Ratio: 0.12%
3. T. Rowe Price Retirement 2045 Fund (TRRKX) – Expense Ratio: 0.62%

Finsum: Despite their “set it and forget it” appeal, periodic reviews help maintain a well-balanced portfolio.

Deeper tax planning integration in wealth management can enhance advisors’ ability to deliver proactive tax strategies that go beyond traditional investment management. Tax planning has become a crucial differentiator in modern wealth management, with more investors seeking advisors who can optimize after-tax returns and long-term financial outcomes. 

Strategies like Roth conversions, tax-loss harvesting, and asset location are now essential tools for high-net-worth clients navigating an increasingly complex tax landscape. With concerns about rising tax rates and policy risks, forward-looking tax planning is becoming indispensable for preserving and growing client wealth. 

Advisors who incorporate these strategies can build deeper client relationships, attract more assets, and position themselves competitively in an evolving industry.

Finsum: Tax strategies help give advisors an edge when dealing with clients and helping them allocate to efficient portfolios. 

Switching broker-dealers is a complex process, but with the right approach, it can be a transformative step for an advisor’s business.

• Legal considerations should be the first priority, as non-compete clauses and client ownership agreements can create hurdles if not addressed properly. 
• Developing a detailed transition plan at least 90 days in advance is essential, ensuring advisors understand which accounts can move, which will remain, and how client data can be organized legally. 
• Engaging staff early in the process prevents last-minute chaos and helps distribute responsibilities effectively. 
• Advisors should also consider client communication strategies, ensuring a seamless transition that reassures clients and maintains trust. 

Finsum: Ultimately, a well-executed move can enhance an advisor’s ability to serve clients while positioning their practice for long-term growth.