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Any indy transition tips?

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Dec 6, 2010 5:18 am

I am transitioning my practice to an IBD beginning tomorrow and wanted some tips on making the process go smoothly. I know this would have had more impact if I had started this discussion while I was in the planning phase, but I just want to make sure I don't overlook anything. I am joining an existing office so all that stuff (lease, utilities, etc.) is already in place. I am LOS 6 from a major wire with T12 of just over 225, and I am ecstatic to be out of there!!

I would appreciate your input!!Thanks!

Dec 6, 2010 3:11 pm

get in front of everyone you want ASAP.  BTW why did you choose right before xmas?

Dec 7, 2010 1:03 am

Thanks for chiming in! Was originally gunning for a November start date, but it took longer than I expected to hash out the details. I didn't have a real sense of security at my prior firm either, so that drove my decision to just go ahead with it now. I feel good with the conversations I had today, and the level of commitment from my clients. Lots more to go...

back to it!

Dec 7, 2010 1:56 pm

good luck. i ask because I thought it might be hard getting in front of people for the holidays. But since you did it, move fast.

Dec 7, 2010 6:20 pm

Did this myself Apr/09.

Make sure to sell the Indy BD, as compared to "i'm in biz for myself". The biggest risk you have, is that clients think you're some Mom/Pop shop.

Make sure everything you do in this transition phase is more professional, a cut above, compared to the firm you're at.

Time is crucial. Do not let your former colleagues get the chance to meet/make trades with your clients. If you sense legal problems with the old firm, you'd better be ready for it. A TRO would sink you, instantly. I dealt with a nasty situation when leaving, still in it, so if that's going to be a problem I can explain a bit more about how that all goes down.

Dec 7, 2010 8:12 pm

Good Luck, Now get back to ACATS!