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Switching Firms - Relatively New Advisor

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Jun 28, 2020 10:31 pm

So I’m starting my 4th year and have approximately 400-450k in trails and average 1-2mm in new assets a month minimum that typically go into a wrap account. I’m currently with Edward Jones, and love the culture but really need help in determining if I should continue on the path of limited partnership, potential general partnership, or look for a big payout from another firm to come over, then go independent, and eventually exit my practice for a huge multiple. Right now I have a hard time servicing UHNW clients with Jones due to a lack of private banking solutions and I’m wondering if I’m leaving a ton of opportunity on the table by remaining. I’m in the middle of starting my family and I really need to think about what’s best for us financially. Any help would be greatly appreciated to say the least. Thanks all!

-Straight Bullish

Jul 16, 2020 7:33 pm

Which route/ BD are you looking at. I am with LPL and there is a lot to like about it. I have not looked for any private banking options. LPL will likely have a signing bonus to jump straight to independence.