Friday, 03 November 2023 14:49

Advisors Looking to Move Should Prepare for Client Questions

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There are many reasons why an advisor might decide to switch their broker-dealer or custodian: better culture, a more supportive environment, or innovative solutions for their clients, to name a few. While these are valid reasons to consider a change, advisors who prepare for their clients’ questions will be thankful they took the time to do so if or when the time comes to move.


A helpful guide is the FINRA post “What to Ask When Your Registered Financial Professional Changes Firms,” published less than a year ago. It recommends questions an investor should ask their financial advisor who is moving firms.


At the top of the list are “Could financial incentives create a conflict of interest for your registered professional?” and “Can you transfer all your holdings?” These are understandable questions your clients might seek answers to, and having transparent and well-thought-out answers will go a long way to easing their concerns, if they have any.


If you are considering a move, check out this article and use it as a guide to prepare your communication with your clients.

Finsum: Considering switching firms as an advisor? Be ready for client questions with insights from FINRA's guide. Clear communication is key!


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