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Non-compete and non-soliciting agreements contain complex legalese, and it’s important to understand the fine print and language of these clauses so you don’t get stuck in a contract you don’t want.  You might be tempted to gloss over important phrases, but be aware that these agreements may impact your future and your relationships with your clients.  If you are considering signing an agreement or have already signed an agreement, you should always seek legal counsel to best understand your rights and options. At Bridgemark, our financial advisor consultants have worked with hundreds of advisors over the years.  Many advisors have had some variations of these agreements and we are here to provide invaluable guidance. […]

Selling a financial advisor practice is not a DIY endeavor.  The valuation process might not seem that complicated at first glance, but this challenge will chew up your time and energy.  You may choose to consult with an expert in order to get an accurate and fair value for your financial advisory firm.  Let’s take a quick look at the best approaches for calculating fair value for your firm. […]

Franklin Templeton Investments recently conducted a study on succession planning that included 162 RIA leaders with AUMs ranging from $100 million to $5 billion. Less than one third of them have started the process to ensure a successful transition to retirement. More than half feel that won’t affect the pool of potential buyers when they’re ready. Financial professionals, relied upon by countless individuals and companies for sound financial planning, often fall short in that area when it comes to their own interests. Yes, the ratio of buyers to sellers is estimated at 50 to 1 right now, but that doesn’t mean you’ll get maximum value for your book of business. Successful succession requires careful planning. Step #1: Establish a Timeline Choosing to sell your practice on a whim when a buyer appears is not fair to your clients. If you’re thinking about moving on, establish a set timeline to do it [...]

Many RIA sellers who were already contemplating an exit in the near- to mid-term are likely to see the handwriting on the wall and scramble to complete their sales before the tax increase takes effect. Read Full Article

In the do-it-yourself world of wealth management, the concept of turning your future over to an outside entity is not easy to digest. Controlling one’s own fate is one of the primary reasons many advisors go into the profession—so why work with a financial advisor recruiting consultant when contemplating a change in venue? In today’s article, we’ll cover the advantages of asking for help. At Bridgemark Strategies, we are leading financial advisor recruiters and consultants serving Financial Advisors, RIAs, and Broker/Dealers nationwide. If you’re considering a transition, we can leverage our vast network and experience to help you discover and vet new firms so you can make the best choice for your needs. Contact Us Reason #1: Due Diligence is Time Consuming Let’s assume you’ve already made the decision to leave your firm. Now what? As a fiduciary, you have an obligation to continue servicing your clients to the best of [...]

Transitioning to a new firm has its share of challenges. Leaving the familiar to venture into the unknown is always difficult, so it’s best to do some homework prior to making a move. An analytical approach is recommended. When it comes to the financials of an opportunity, advisor payouts are important—but they are not the only factor to consider. In todays’ article, we’ve broken down some of the key financial factors that you should consider when comparing financial advisor opportunities. […]

The path to become a financial advisor is not for everyone. It’s a long journey that requires earning an undergraduate degree, getting some solid hands-on experience in the industry, passing a series of exams, and then potentially going on to more specialized education such as a CFP, which today is almost as important as the licensing exams. In today’s article, we’ll cover the basic steps of the financial advisor career path and what to focus on in 2021. […]

We only need to go back a few short years to understand how company culture can affect financial services. In 2018, Wells Fargo was banned from growing by the Federal Reserve for opening fraudulent accounts. Their internal investigation blamed it on culture. There’s documented evidence in multiple industries that an unhealthy corporate culture leads to unethical behavior by employees. That’s not the type of environment you want to work in, so measuring culture when comparing firms is important. Here’s how to do just that. […]

Everyone has days when they aren’t motivated to work or don’t like their firm. That’s not necessarily a sign that you’ve outgrown your firm. It could be a simple human reaction to being overtired, overworked, or just in need of a mental health break. String a few of those days together, though, and it may be time to make a change. Should you start looking for a new firm? Obviously, no one else can make that choice for you, but we’ve put together a list of warning signs that might indicate you’ve outgrown your current firm. […]