Should You Be a Big Fish in a Small or Large Pond?
June 20, 2023 By Jon Henschen, ThinkAdvisor What You Need to Know Changing your broker-dealer is a situation where there is no perfect outcome but rather, a give-and-take of trade-offs. Small firms can mold to an advisor’s individual needs and provide them with greater flexibility and opportunities for recognition. Larger firms have the advantage of scale, not to mention depth and breadth of services "There are no solutions, there are only trade-offs; and you try to get the best trade-off you can get, that’s all you can hope for,” wrote economist Thomas Sowell. It is especially fitting to quote Sowell on this topic because changing your broker-dealer is clearly a situation where there is no perfect outcome but rather, a give-and-take of trade-offs. The primary voices in our industry would lean toward the side of larger firms,...