AdvisorTrends - The 3xEquity Podcast

Learn more at 3xEquity.com . With football season kicking off next week, I couldn’t help but think of one of my favorite phrases: “keep your head on a swivel.” While this advice is crucial for NFL quarterbacks like  Patrick Mahomes or Josh Allen , it’s just as relevant for financial advisors in today’s ever-evolving market landscape. The phrase “keep your head on a swivel” essentially means being...

With so many reasons for an advisor to move to a new broker-dealer, not the least of which is the potential for a very lucrative payday, Jeff Crosby, CEO and founder of 3xEquity, stressed in his recent podcast discussion with AdvisorHub publisher Tony Sirianni this one overarching concept... whether it is in your business life or personal life, a transition to a new broker-dealer, a new healthcare...

Learn more at 3xEquity.com . Welcome to AdvisorTrends, the podcast where we explore the latest insights and trends for financial advisors considering a move. Today, we dive into the recent issues at B. Riley and offer advice to advisors with that firm—or any firm—going through some public challenges. Whether you're feeling the pressure or just exploring your options, this episode is for you. A...

Learn more at 3xEquity.com Financial advisors who have been hesitant to leave their existing firms to pursue better opportunities elsewhere often site one reason: repapering. The paperwork required to move clients from the old broker-dealer to a new one has long been perceived as a significant hurdle. Advisors feared that the process would be too onerous for some clients, or worse, that clients mi...

Learn more at 3xEquity.com They say the secret to a successful life is to picture your funeral and work backward. The idea is that you’ll have the lessons of a full lifetime and the chance to make changes if things don’t look or feel right. The same principle applies when choosing to move to a new broker-dealer. Although your hope should be finding your “last” broker-dealer when moving, the truth...

Learn more at 3xEquity.com . They say the secret to a successful life is to picture your funeral and work backward. The idea is that you’ll have the lessons of a full lifetime and the chance to make changes if things don’t look or feel right. The same principle applies when choosing to move to a new broker-dealer. Although your hope should be finding your “last” broker-dealer when moving, the trut...

Learn more at 3xEquity.com Have you seen Nike’s new ad for the Olympics ? It’s titled "Am I a Bad Person?" and it uses that question to tap into the winner's mentality in a unique and ultimately inspiring way. Actually, inspiring might not go far enough.  A few seconds into the ad you’ll likely start swaying restlessly and by the end, you’ll be looking for some raw meat to tear into....

Learn more at 3xEquity.com Choosing the right broker-dealer is a critical decision for financial advisors looking to transition their practice. Here are the key criteria to consider: Reputation and Stability    – Research the Broker-Dealer’s History: Look for a firm with a solid reputation and financial stability. Check their track record, client reviews, and industry standing.    – Regulatory His...

Learn more at 3xequity.com/qs Hello and welcome to AdvisorTrends, 3xEquity’s podcast about all things related to advisor transitions and practice management. Today, we’re diving into the results of the recent J.D. Power Satisfaction Survey of financial advisors. This study sheds light on some intriguing trends in the wealth management industry, particularly the high rate of advisors being "in...

3xequity.com Are you confident that your practice is performing at its peak? It’s easy to assume when things are going well, there’s no room for improvement. However, even the most successful practices can have "unknown unknowns" – areas that aren't being focused on enough. A  certified practice valuation  can uncover these hidden opportunities for growth and efficiency.   At 3xEquit...

Learn more at 3xEquity.com/ Today we’re diving into a topic that’s particularly timely: Why July is the best time to start your transition to a new broker-dealer. As we settle into the sweet part of summer, many financial advisors might be contemplating a move but wondering when the best time to start those conversations is. Well, let me tell you, there may be no better time than right now. Let’s...

Election season is upon us and advisors may increasingly find themselves in uncomfortable territory.  Politics can easily seep into discussions, potentially affecting client relationships. Here’s how financial advisors can maintain professionalism and  focus on their clients’ financial goals , irrespective of political differences. The first step in keeping politics out of financial advising is se...

Learn more at 3xEquity.com . Summer often provides the opportunity for more downtime, and time on a beach or in a hammock is a great opportunity to pick up a book. For financial advisors, this downtime can be used strategically to enhance professional knowledge. Staying well-read helps advisors stay ahead of market trends and evolving client expectations, and engage in meaningful discussions with...

Learn more at 3xEquity.com/qs Like so many we’re caught up reading Cal Newport’s latest New York Times bestseller, “ Slow Productivity .”  Subtitled, “The Lost Art of Accomplishment Without Burnout,” Newport proposes that a path exists for true life quality AND high-level achievement (and that running yourself into the ground doesn’t have to be an inevitability).  That kind of goal likely resonate...

Learn more at 3xequity.com/qs 15 Things You Can’t Afford To Overlook When Considering A Move To A New Broker-Dealer 1. Who Owns the Client: The Advisor or the Broker-Dealer? Understanding client ownership is crucial. If the broker-dealer owns the client relationships, transitioning away in the future might be more complicated. Ensure you have clarity on this to maintain control over your book of b...

Learn more at 3xequity.com/qs Transparency and integrity play an outsized role in the perception of financial advisors. But as we know, things happen.  The U4 disclosure form, which outlines an advisor's disciplinary history, can play a critical role in establishing (or diminishing) trust and credibility with clients. Negative entries or "dings" on this form can create hurdles when a...

3xequity.com/qs As a financial advisor contemplating a move to a new broker-dealer, understanding all your options is crucial for making an informed decision. Often, your first point of contact will be an in-house recruiter who is naturally inclined to present their firm in the best possible light. However, while in-house recruiters can be a valuable source of information, it’s important to recogn...

[Curious about changing broker dealers? Visit AdvisorHub Offers .] Caveat Advisor! You might be bleeding profits because of opaque and escalating broker-dealer fees without even realizing it. Many advisors haven’t re-evaluated their broker-dealer agreements since initially jumping on board. Back then, your smaller asset base may have meant seemingly more manageable fees. But as your AUM has grown,...

Learn more at 3xEquity.com/qs Over the last decade, Bitcoin has transitioned from a niche digital curiosity into a mainstream financial asset, attracting attention from individual investors, institutions, and governments alike. This transformation has been accompanied by significant volatility and a complex underlying technology, posing challenges and opportunities for wealth management clients. F...

Learn more at 3xEquity.com/qs “Decision Is The Ultimate Power.” - Tony Robbins We’ve written a lot recently about the utter dominance of LPL in the recruiting wars.  They are an absolute juggernaut right now with a value prop that should be seen as incredibly appealing to most advisors. So this next statement may seem weird - if you are an Atria advisor you might want to consider fielding offers f...

Learn more about our services and hear additional podcast episodes at 3xEquity.com . Every year, thousands of advisors make a big career move. Some go from a wirehouse to a broker-dealer or wirehouse to RIA, and some move from broker-dealer to broker-dealer. No matter what scenario you are looking at, working with a Transition Specialist is not only a game-changer — it’s gaining the advantages of...

Learn more at 3xequity.com . In a groundbreaking move that signals a significant shift in the financial landscape, BlackRock, the world’s largest asset manager, has embraced the world of cryptocurrencies by venturing into the Exchange-Traded Fund (ETF) space for both Bitcoin and Ethereum. (**the Ethereum ETF is still in the review process, but notably, BlackRock is 576-1 when it comes to ETF appro...

Learn more at 3xEquity.com/qs In 2022, the RIA and BD industry experienced growth of 2.1%, boasting +450,000 investment advisors managing an impressive $514.1 trillion in assets for approximately 91.9 million clients. The industry’s expansion indicates the increasing reliance on investment advisors for managing diverse portfolios and navigating the intricate world of financial markets. Now, envisi...

Learn more at 3xEquity.com In a surprising move, Cresset has filed to withdraw from the Protocol for Broker Recruiting, marking its departure on the first day of 2024. This development comes merely eight months after Cresset rejoined the protocol and almost four years since the firm initially withdrew in February 2020. The Protocol for Broker Recruiting, established in 2004, was designed to addres...

UBS is set to overhaul a key aspect of its recruiting deals in the coming year, signaling a shift away from a feature that guaranteed experienced brokers deferred bonuses, irrespective of their revenue growth.  According to insights from industry headhunters, UBS managers have communicated that the firm will return to a more conventional bonus structure in 2024. Under this revised formula, brokers...