To B/D, Or Not To B/D That Is The Question.

More and more financial advisors with broker dealer affiliations are questioning their B/D-only relationship. We are at a unique time in history, where the demands of clients, financial advisors, and the financial service industry providers are all changing simultaneously. Many Broker/Dealers have become behemoths; if you do not have a big voice, you will quickly get lost in the shuffle. Clients want more of everything – service, technology, investment products, and quality service – all at an ever-lower cost. In the independent B/D space, there is an increasing number of mergers and acquisitions that are giving rise to super aggregators: Advisor Group, Cetera, and LPL.

Registered representatives witnessing these changes are asking, “what do I really want to be when I grow up?”

Home for Hybrids, LLC (HFH) is a resource to advisors looking to sift through the options and issues related to staying or going.

The scope of this data is oriented towards a financial advisor who is currently affiliated with:

  1. A B/D and considering making a move from B/D-only
  2. A B/D + Corporate RIA
  3. A B/D with a relationship with an outside RIA
  4. An RIA only
LET’S CONNECT

Registered representatives witnessing these changes are asking, “what do I really want to be when I grow up?”

Home for Hybrids, LLC (HFH) is a resource to advisors looking to sift through the options and issues related to staying or going.

The scope of this data is oriented towards a financial advisor who is currently affiliated with:

  1. A B/D and considering making a move from B/D-only
  2. A B/D + Corporate RIA
  3. A B/D with a relationship with an outside RIA
  4. An RIA only
LET’S CONNECT

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Home For Hybrids

Questioning Your B/D Relationship

Here are some questions to consider when thinking about staying-with or leaving your current B/D relationship:

  • Who am I?

  • Is my current home best for me?

  • What is out there?

  • What are positives and negatives to making a change?

  • If I make a change, where is the best fit for me?

  • If I decide to move what are the economics for my clients, my organization, and me?

Home For Hybirds

Questioning Your B/D Relationship

Here are some questions to consider when thinking about staying-with or leaving your current B/D relationship:

  • Who am I?

  • Is my current home best for me?

  • What is out there?

  • What are positives and negatives to making a change?

  • If I make a change, where is the best fit for me?

  • If I decide to move what are the economics for my clients, my organization, and me?

Who Am I?

What type of advisor are you and what type of advisor do you want to be?

I try to simplify things and create two categories and then two subcategories:

  1. Transitional Wealth Planners
    1. Offer Planning Services and Written Plan (For additional fee or included in WRAP)
  2. Product Solution Advisors
    1. Off-the-shelf Product Solution
    2. Advisor-Built Investment Solution
HAVE QUESTIONS?

If you are a Transitional Wealth Planner with a more sophisticated client base that demands a more robust offering including complex and holistic financial planning and are looking for a more advanced investment product platform to support that financial plan, then a B/D with a corporate RIA may be the best choice for you.

If your clients view you as only a product solution provider, whether off-the-shelf or built and managed by you and your team, a traditional B/D relationship may be your best fit. Practices built around mutual funds, c-shares, variable annuities, and other B/D-based products typically are a good fit for a strictly-B/D style affiliation model, too.

Finally, if you provide a pure planning business (no legacy income from a bd based investment products) and focus on a financial planning offering alongside fee-based investments, TAMP’s, and self-built portfolios, then a pure RIA may be the best choice for you.

*Transitional Wealth Planners focus on the following transitional events: retirement, inheritance, change in marital status, relocation, loss of a loved one, sale of a business.

Contact Home For Hybrids

Feel free to contact us with any questions you may have. We are here to help.

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