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For many advisors, these challenges are inspiring them to consider transitioning their practice. The goal: Find a firm that’s better equipped to help them manage change and develop their ideal practice.
For advisors considering a move, it’s important to understand what’s vital for a successful transition.
Anyone who guarantees a seamless move isn’t presenting the whole story. There will always be important considerations, and you don’t have to tackle the transition alone.
Look for a firm that’s prepared to guide you through key steps. They should do a lot more for you than hand you a stack of paperwork and a checklist.
In today’s world, smart automation and robust digital capabilities are the rule, not the exception.
This is especially true in practice transitions, where digital tools are invaluable for completing tasks, managing deadlines, tracking the progress of client transfers and more.
It certainly is a multistage process. A firm that provides high-quality support will assist advisors before, during and after the move. Supportive firms should also have a clear, documented approach they can share.
Ask about available opportunities and resources to help grow your practice in the future.
So you’ll want to ensure your new firm matches your passion for service. Ask to review the firm’s satisfaction ratings and talk to current advisors about how the company treats clients.
“One of the reasons I joined Ameriprise was because of how much they care about clients and advisors. That culture of caring is embedded in everything we do,” says Carr.
When you join a firm that puts its clients first, you can feel better knowing that your clients will be in good hands.
Your clients and the product mix that makes up your total assets under management require their own special review and consideration.
Many things can impact your transition, so it’s important to work with a firm that knows how to onboard your type of practice. A firm with varied and deep transition experience can help you anticipate issues, address your concerns and proactively resolve them. Even if you’ve transitioned your practice before, it’s wise to tap into a firm that recruits and transitions hundreds of advisors every year.
The more robust the support you receive, the faster you can complete your transition and get back to doing what’s important – providing your clients with exemplary service.
“One of the reasons I joined Ameriprise was because of how much they care about clients and advisors. That culture of caring is embedded in everything we do,” says Carr.
To learn more about how Ameriprise can help you transition – and transform – your practice, contact our transition team at 1.866.806.9984.