Five Things You Should Know Before Moving Your Practice to a New Dealer

April 4, 2019 | AdvisorBridge, Transition

Five Things You Should Know Before Moving Your Practice to a New Dealer

If you’re considering transitioning your practice to a new Dealer your due diligence process needs to be rigorous. On average, Advisors will move Dealers at least once in their career – making a hasty, poorly informed decision can result in years of grief and regret.

Here are a few fundamental questions that need to be clarified by a prospective Dealer Partner as you move towards a decision point.

1.      When was the last time they changed their grid?  As a business owner you’ll need to know how often and with how much notice you’re given before the compensation structure might change.

2.      Are they alligned with your business goals and values?  A lot of Independent Dealers like to position themselves as being ‘entrepreneurial’.  Is this a marketing tactic or do they actually demonstrate this through their brand and management style?

3.      Who “owns” the client relationship? Most Independent Dealers will say you do – but how exactly is this ownership characterized in their Employment or Agency agreement?

4.      Who’s your Fixer?  If an important client relationship is being threatened by an over reaching internal policy, who will make the exception?  How many layers of management will you have to go through to get to this person?  How long will it take?

5.      What is the Firm’s commitment to investing in technology?  The answer to this question should be clear and detailed.  As the industry evolves a large part of your competitive advantage will be defined by your Firm’s commitment to investing in cutting edge technology.

For anyone considering moving their practice, creating the framework for a comprehensive discovery process is a daunting, but necessary task.  In the past, Advisors have had little choice but to engage in this process without balanced, objective representation.  Advisors are at a natural disadvantage to recruiters who are native to the process.  At AdvisorBridge, our goal is to tilt the floor – in your favour.

AdvisorBridge empowers Advisors who want to have greater control over the transition conversation.  We provide our clients with the opportunity to engage in a structured, confidential process that protects their identity while remaining intentionally transparent and exceptionally efficient.

Considering a move to a New Dealer?

Make us your first call.



Danny MacKay,

Danny MacKay is the founder of AdvisorBridge and SeekAdvisor, a former Bay Street Executive and Industry Insider turned Investor Advocate.  If you have any questions or comments about this article please feel free to reach out -