It’s not unusual for advisors to jump into exploration mode without first slowing down and gaining clarity on what they are trying to solve for.
Yet the problem is that these advisors often come away more confused than informed.
That is, diving into identifying solutions without a clear understanding of the problem sends most off on a less than strategic wild goose chase.
So what is it that advisors need to be aware of before taking meetings or calls?
What questions do you need to answer on your own?
And how can you ultimately be more strategic in the process?
The first of a special two-part series on the due diligence process dives into what you need to ask yourself before even considering a move, including:
- Identifying your why—and what.
- Knowing what you really love about your current firm—and what limits or frustrates you.
- Getting partners aligned on what’s best for the business—and how to reconcile any differences.
- Understanding the real value of a transition deal—and how important it is to you.
- Establishing whether you want to be an employee or a business owner—and how much freedom is right for you.
- Acknowledging your concerns about making a move—and if portability might be an issue.
It’s about gaining a clear understanding of your goals to help ensure that the due diligence process is meaningful and accretive—while broadening your awareness of an expanding landscape and how the options available can potentially benefit you and your clients.
Even if you aren’t considering change, this episode will help to clarify your thoughts about your goals and vision for the future.
Download the Strategic Due Diligence Roadmap
Download a transcript of this episode…
Listen to the podcast
Listen to more episodes of Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change