How do I know if it’s the right time to consider a move?
You don’t know if it’s the right time until you get the right information. Advisors don’t just take a blind leap of faith, they get the information they need to make this decision for themselves. Our firm has most likely helped many advisors from you firm and can help you understand what you would be gaining by moving or leaving behind so you can make a smart decision.
What usually causes advisors to regret a transition?
Making an emotional decision or one based off economics almost always leads to mistakes. Moving firms can be very emotional and many advisors are in a prime position to make a decision off of emotions and not logic. Having an objective soundboard like myself can help you stay you stay focused on things that are important to you and not be strayed by shiny objects or things that aren’t relevant to you long term success.
Can I explore my options without committing to anything?
Yes! There is not commitment whatsoever. Whenever you want to stop working together or speaking to different firms, we can simply just postpone the search. There is no contract when working with me.
What if I’m just curious and not ready to move?
This is how many of my relationships have started. I have been working with some advisor for 10+ years educating them on the exponentially changing marketplace with no expectations. The smartest advisors in the industry are always looking for the next competitive edge from a tools, technology, and resources standpoint.
How the transition process works
What does the advisor transition process look like?
It all starts with an initial phone call to learn more about you, the characteristics of your business, and what your goals, wants and needs are. If you don’t know the answers to these questions yet, its ok. I can educate you on industry offerings to help identify your wish list.
How long does a typical transition take?
Typically, 6-9 months of part time exploration and preparation. Typically, three months of exploration and 3-6 months of transition preparation once a firm is chosen. There really is no concrete timeline though. Everyone will work 100% work at your pace.
Economics, Deals & Risk
How do firms determine the deals they offer advisors?
It is a combination of the size of the business, business mix, growth, the firm you are leaving, and the philosophical match of the team and the broker dealer. We help you put your best foot forward, make sure underwriting is optimal, and help you understand the different strings that can be pulled to customize/maximize your offer.
How do I know if I’m getting a fair deal?
Unfortunately, there is no Zillow for financial advisor deals to properly compare deals. Inside of Bridgemark, we see hundreds of deals per year. Many most likely from advisors from your firm. So we have real time insight into what is fair and what strings can be pulled to maximize what’s important to you in your offer.
Working with Corey
How is working with you different from a traditional recruiter?
Most recruiting firms facilitate introduction to different firms and then the rest is up to you. We work with you through the whole process to help you ask deeper questions to cut through the sales pitch, be your unbiased soundboard, and help bring you through a decision process that keeps you focused on what is important. We also work alongside you in the negotiation process to ensure you are maximizing what is most important to you in your offer once the right firm is identified.
Do you recommend specific firms or push certain platforms?
Not at all. At the end of the day, this is your journey. We are just sitting in the passenger seat to help you ask the right questions, prevent wrong turns, and get you the information underneath the sales pitch to make your own empowered and confident decision.
Who do you typically work with?
I work with top financial advisors in the industry that are curious about the industry landscape or are considering changing firms. Whether you are just looking for a broad education on the landscape, a specific question, or are more serious about change, I am here to help with no obligation.
When is the best time to reach out to you?
Whether you are just looking for a broad education on the landscape, a specific question, or are more serious about change, I am here to help with no obligation.
Do you work with advisors who aren’t going independent?
Yes we help educate financial advisors on all industry options including Wirehouse firms, Regional BDs, Independent BDs, OSJs, RIAs, boutiques, and strategic acquirers. We work with over 150 if the top firms in the industry.
How are you compensated?
I am compensated a finder’s fee from the 150 firms that we work with. The firms pay my fee so there is no out of pocket cost to you.
How involved are you throughout the process?
We are sitting in the passenger seat with you from first introduction to transition date to prevent wrong turns, advocate on your behalf, and make sure you a leveraging the experiences and best practices of the 1000+ financial advisors I have helped before you.
Do you stay involved after I’ve made a move?
I do! I stay in touch regularly with my clients. Whether it is troubleshooting, answering questions, or introducing an advisors to one of the vendors/partners I have built relationships over the years, I am always here to help.
Platforms, Independence & What’s next
Do I need to go independent to work with you?
No, we work with the top 150 firms in the industry that span across w2 options such as wirehouses and banks, independent broker dealers and RIAs, and also strategic acquirers.
What are my options beyond independence? Can you help with employee-to-employee or independent-to-independent moves?
Yes, no matter where you are at in your career, we can educate you on the landscape and point you in the direction of options that make sense.
Do you help with succession planning or selling my practice?
Yes, whether you have questions about what your practice is worth on the open market (this can be very different than any valuation you may have received), are interested in learning how to prepare your business for a maximum valuation, or ready to start looking at potential successors, we are here to help you find the right fit!
Can you help me grow after the transition?
Absolutely! I try to keep in regular touch with all the advisors I help transition. Whether it is to answer questions, troubleshoot, or put them in front of the right vendor for an issue, I am always available to help.
What are the common challenges faced by financial advisors when considering independence?
Financial advisors considering independence often face challenges with operational setup, compliance, technology, and marketing. Navigating these complexities requires careful planning and support.
