November 2, 2012

#1 Issue to consider when trading away?

Moving Assets is always the #1 most weighted piece of the calculus when pondering a move.  It evokes a spine tingling sense of fear & dread  about losing a hard-won client.  Even more powerful is the reward of a loyal client who respects you as a professional by making the ACAT easy & painless.  There are many parts of the due diligence process when weighing a trade-away but typically, the on-boarding of existing clients gets the least attention.

We’ve re-inserted the “Client On-Boarding” experience to the 2nd most critical part of the due diligence process for our candidates.  Grid placement, incentive front/back money, products, technology, platform, firm & BOM reputation . . .etc. are all equally crucial but the psychology of knowing that a move can be done gracefully and not as painfully as imagined is a mind opening experience for many.

90 days after a move, we regularly hear that when the clients were approached and told of the new firm they were almost all loyal to the adviser and not the BOM designated FA who called them the day our candidate(s) resigned.  Having a more confident and less fearful sense of moving assets means that your internal microscope can focus on the other criteria with more clarity and objectivity.


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