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Making the Right Move

A Guide for Financial Advisors Considering a New Firm

When considering a move to a new firm, it’s easy to be drawn to financial incentives like payout structures and upfront checks. However, focusing solely on these can overlook critical factors that impact your long-term success. Here’s a streamlined guide to ensure your next move aligns with your professional goals and values.


1. Alignment with Success and Profitability

Understand how the firm generates profit and whether its success is tied to yours. Investigate the influence of parent companies, private equity, or shifting priorities in other business divisions that may impact your practice.


2. Firm Culture and Leadership

A firm’s culture plays a significant role in your day-to-day experience. Look beyond recruiter pitches:

  • Is there a sense of community and collaboration?
  • Does the firm’s leadership share your values and vision?

3. Ownership and Flexibility

Ensure you own your clients and data, with clear terms for potential separation. Verify the firm’s support for various business models, such as RIA-only, hybrid, or W-2, and its ability to adapt to your evolving needs.


4. Product, Technology, and Compliance

  • Product Access: Does the firm offer innovative solutions like direct indexing, charitable giving tools, or family office resources?
  • Technology: Assess whether the firm uses advanced, flexible tools or outdated proprietary systems.
  • Compliance: A collaborative compliance team should support, not hinder, your business.

5. Growth and Succession

Choose a firm that actively supports your growth through marketing, education, and advisor networking. For long-term planning, evaluate its succession solutions, including fair buyout values, next-gen advisor support, and matchmaking services if needed.


6. Economics and Transition

Ensure the firm delivers value for its costs and offers multiple custodian options for client flexibility. During transition, look for a clear, in-house strategy to minimize disruption.


7. Upfront Deals: Look Beyond the Surface

While upfront financial incentives are enticing, ensure they don’t overshadow gaps in long-term support. Opt for deals with reasonable terms and commitments, typically no longer than seven years.


The Bottom Line
Your next firm should offer more than monetary benefits—it should align with your values, provide robust support, and help your business thrive. With a holistic approach, you can make a move that’s both profitable and fulfilling.

To learn more information on how Focus Financial can support your transition, contact Dave Peck, VP of Business Development. 

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