http://registeredrep.com/columns/career-moves/ en-us http://registeredrep.com/columns/career-moves/finance_move_wirehouse_platform Mitch, a 25-year wirehouse veteran with $500 million in client assets in the Midwest, began considering his options for a move in 2008. He was tired of the bad press about his firm and other wirehouses and decided he was financially prepared to forgo a 300 percent incentive check; he liked the idea of independence. On his own, Mitch began doing due diligence with several custodians to explore partnering career-moves Sun, 01 Apr 2012 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_moving_wirehouse_ibd James and Nancy, a wirehouse team in a southeastern city, began looking around for new digs in 2008 but it took them a few years to make the leap. James and Nancy had been at a regional firm that was ultimately acquired by their wirehouse in the early part of the decade. Together, James and Nancy generate around $1 million in annual production. While they never would have chosen to move to a wirehouse career-moves Thu, 01 Mar 2012 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_swimming_upstream If you want to work with high-net-worth clients, the private banking divisions of the wirehouse firms are worth considering. career-moves Sun, 01 Jan 2012 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_gungho_growth career-moves Thu, 01 Dec 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_regional_alternative What do regional brokerages offer and whom do they attract? career-moves Tue, 01 Nov 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_allure_multifamily_office Multi-family offices are becoming a popular option for top-tier financial advisors. career-moves Mon, 01 Aug 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/how_to_switch_firms_financial_advisors_0701 Switching firms is a huge decision so do your due diligence well. Consider these two scenarios: The Shortcut Jerry was very frustrated with his firm because he felt that he was receiving far less support from management than he wanted. Meanwhile, he was being wooed by another wirehouse. Worried the other firm's big offer would be pulled soon, Jerry was eager to make a move and replace much of the wealth he lost during the market downturn. But he didn't ask a lot of questions, relying instead on casual conversations with the firm's branch manager. As a result, he never pinned down important specifics, such as what products he could sell, how his commissions would be handled and the firm's policy on sales assistants. A few months after taking the leap, Jerry started to become disenchanted. Struggling to keep up with the transition of his clients and concerned about growing his business without proper support, Jerry was angry with himself for not asking enough hard questions before he made the leap. The Scenic Route Edward and Jim, a wirehouse team with nearly $1 billion in assets under management, were in no rush to leave their firm, but were interested in exploring opportunities at other wirehouses. Once they narrowed down their short list to one firm, their due diligence began. With many moving parts to Edward and Jim's business, they had an extensive list of questions. that needed to be answered. After a number of meetings with the firm's local branch, Edward and Jim went to the firm's headquarters, where they met with relevant product heads and senior leadership. It was a long process, but all their priorities were addressed, down to the tax implications and treatment of imputed interest on their transition bonus. Satisfied with the results of their research and confident the move was in their clients' best interest, Edward and Jim made the switch. A few weeks in, they moved 90 percent of their best clients. career-moves Fri, 01 Jul 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_opportunities_guarded_optimism It's high time to recognize the hard work of today's financial advisors over the past couple of years in rebuilding the bridges that were so badly damaged, if not destroyed, by our financial tsunami. The bridges I'm referring to are those bridges of trust and professional respect that are so critical in the advisor/client relationship. Our most recent research has uncovered a number of positive trends. career-moves Thu, 09 Jun 2011 10:00:00 EDT http://registeredrep.com/columns/career-moves/talking_to_clients_about_a_move_0531 Once you’ve decided you are moving and have selected a new firm, your focus will naturally turn to your clients. Will they agree to follow you to your new digs? Which ones do you want to come with you? How should you tell them about your plans? Before you engage in any discussions with clients about a move, there are many landmines you will want to avoid. One wrong step in a dialogue could derail your plans, or cost you and your new or prospective firm a lot of money. To avoid missteps, it is best to seek legal counsel from an industry expert to learn what you can and can’t say, as a practical matter, to clients—both before and after a move. career-moves Tue, 31 May 2011 09:44:00 EDT http://registeredrep.com/columns/career-moves/finance_wirehouse_firms_creative_0406 As recruiting from other wirehouses dries up, the big Wall Street firms have been turning to non-traditional sources. career-moves Fri, 01 Apr 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_clearing_hurdles_0321 Today's fat recruiting deals reward those who clear challenging growth hurdles. Not everyone is able to stay in the race. career-moves Tue, 01 Mar 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_recruiting_bonus_not The number of years over which recruiting deals vest is growing with every year. But if you're careful with that loan money, it shouldn't make a difference. career-moves Tue, 01 Feb 2011 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_economics_matter The deals being offered by the wirehouses make it harder for an advisor to choose independence. career-moves Wed, 01 Dec 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_better_worse Some say moving does not pay off. I have to differ. career-moves Mon, 01 Nov 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_five_reasons_wont Production and assets aren't the only things that factor into wirehouse hiring decisions. Even if all of your numbers look good, you might not get that six-figure upfront bonus. Here's why. career-moves Fri, 01 Oct 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_staying_long_haul There are good reasons to stay put, and there are bad reasons. If you're trying to decide whether to stick it out, make sure you know which is which. career-moves Wed, 01 Sep 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_teams_fall_apart Getting all of the members of a team to agree to switch firms together can be a major challenge. career-moves Tue, 03 Aug 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_pause_play With regulatory reform on the way, some financial advisors are putting off making important career changes. career-moves Tue, 01 Jun 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_breakback_brokers The hottest trend over the past 18 months has been the breakaway broker, the wirehouse advisor who leaves his firm to either become an RIA or to affiliate with an independent broker/dealer. The turmoil on Wall Street, the giant mergers of brokerage firms and the lure of entrepreneurship have all combined to push thousands of advisors to the independent firms. The longstanding assumption in the industry career-moves Thu, 01 Apr 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_job_changers_top Changing jobs always comes with risk. Here are some potential pitfalls to avoid. career-moves Mon, 01 Mar 2010 12:00:00 EDT http://registeredrep.com/columns/career-moves/finance_planning_everything Once you have decided to switch firms, it is essential that you know exactly what you need to do and how you are going to do it. career-moves Mon, 01 Feb 2010 12:00:00 EDT