Advisors Looking to Move Should Prepare for Client Questions

Advisors Looking to Move Should Prepare for Client Questions

There are many reasons why an advisor might decide to switch their broker-dealer or custodian: better culture, a more supportive environment, or innovative solutions for their clients, to name a few. While these are valid reasons to consider a change, advisors who prepare for their clients’ questions will be thankful they took the time to do so if or when the time comes to move.

 

A helpful guide is the FINRA post “What to Ask When Your Registered Financial Professional Changes Firms,” published less than a year ago. It recommends questions an investor should ask their financial advisor who is moving firms.

 

At the top of the list are “Could financial incentives create a conflict of interest for your registered professional?” and “Can you transfer all your holdings?” These are understandable questions your clients might seek answers to, and having transparent and well-thought-out answers will go a long way to easing their concerns, if they have any.

 

If you are considering a move, check out this article and use it as a guide to prepare your communication with your clients.


Finsum: Considering switching firms as an advisor? Be ready for client questions with insights from FINRA's guide. Clear communication is key!

 

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    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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