Let’s be honest, exploring your broker-dealer options can be a full-time job in itself, not to mention running the successful practice you have built. I am not saying this for the benefit of Trusted Visions or any other 3rd party recruiting company, but you should strongly consider working with a reputable firm when exploring your broker-dealer options. This will allow you to continue to serve your clients to the highest level while allowing a firm like ours conduct all the due diligence and get as many of your questions answered as possible.
I recommend narrowing your search to 3-5 broker-dealers so you are not looking at every possible broker-dealer. Doing so can become too time consuming and waste a huge portion of your valuable time. A good 3rd party recruiting firm should listen to your dissatisfaction with your current broker-dealer, understand important aspects of your practice and have a good idea of what broker-dealers fit to form a tailored wish list. With that information, they should be able to introduce you to a few broker-dealers that check all the boxes.
My last opinion, (at least for today) is when you have finally come to the realization that you must make a broker-dealer change, don’t drag it out over 9-18 months. It is similar to when an employee puts in their two-week notice. How often is their production beneficial to their soon-to-be ex-employer? In your case, you will be splitting your time between clients and exploring your broker-dealer options. Your production and the service to your clients will both suffer.
