Top Five Reasons Advisors Change Broker/Dealer
October, 2011 by Jon Henschen and featured in Investment Advisor Culture shock is the top reason advisors look for a new BD Several years ago I wrote about what motivates advisors to change their broker-dealer. Much has changed since then, so it’s time for an update. This time, rather than basing the reasons solely on our own recruiting experiences, we sought out the feedback of various broker-dealers for greater objectivity. Also, this review focuses on the perspective of advisors who are already at an independent broker-dealer and looking for a new one. We didn’t bring wirehouse advisors into the mix, as their criteria for change are somewhat more static and narrowly focused. The Top Five Reasons Advisors Make a Move: Then Unhappiness with their current relationship Seeking better business support services Looking for better technology Need better product...