Advisors Can Use An Investor Friendly Approach To Help Move Their Books To A New Firm

The idea for my latest article just hit me one day as I was helping one advisor transition his business to a neighboring wirehouse and was working with another who had opted to join a regional firm. We were discussing strategies to get clients excited about their moves. I shared with them a technique  that I’ve been recommending  to advisors for years.

The time-honored approach for an advisor who has switched firms is to highlight the benefits of the new firm’s platform. Advisors explain how they can service their client’s accounts better at the new firm. That’s of course, still a good idea.

However, there’s another approach that can also be very effective. If appropriate, advisors can use the financials of their new firm — especially data on the stock’s  market cap, stock price appreciation rate, etc., to generate excitement about the firm that they’ve chosen.

I’ve included specific examples of numbers that can be used to get clients pumped up about moves to wirehouses, regionals, and independent firms.

Here’s the article:

An Investor Friendly Way To Switch Broker Dealers: Use The Numbers

ThinkAdvisor January 13, 2015