TRANSITION CONSIDERATIONS FOR Faith-Driven ADVISORS

Key Questions for Moving to a Supported-Independence Model

Are you in the right place to

fulfill your calling?

Questions to Ask Yourself

❋ Strategic Alignment

Are your firm’s mission, values, and client service approach aligned with where you are today?

❋ Expert Facilitation

Can you fully serve your clients, or do you feel constrained by limitations on services, products, compliance, or technology?

❋ Collaborative Environment

Does your current environment support your growth aspirations, both for your business and for the depth of relationships you want with clients?

❋ Intentional Structure

Do you see yourself building a long-term legacy where you are, or do you feel your entrepreneurial spirit is limited by your firm’s culture or structure?

  • Connect with advisors you know at other firms and learn from their experiences.

    If you have trusted relationships with other advisors, ask them to share insights about their costs, firm culture, and the client experience. Their transparency can provide valuable context as you evaluate your options.

  • Conduct your own research and reach out directly to firms that interest you.

    Most firms have dedicated professionals ready to guide you through their due diligence process, making it easier to evaluate what they offer.

  • Work with an independent recruiter or consultant.

    Many recruiters are not tied to specific firms and are incentivized to help you find the best fit. They are paid by the firms they work with—not by you—so their focus is on helping you make an informed decision.

Which options best support you and your vision?

As you begin to explore options, it’s helpful to form a framework to compare and prioritize the offerings of different firms and models. These five categories and questions can be useful to evaluate and organize the information you seek from different firms.

    1. TECHNOLOGY: Is the firm’s core technology software built to meet your current needs and capable of supporting you as you scale? Is the core technology software integrated between platforms? Is there a dedicated team that supports IT?

    2. INVESTMENT PLATFORM Does the firm enable you to create and manage your own models with software that allows you to scale your investment process across your book? Does the firm offer models that would suit your clients’ risk preferences and values? Does the firm offer alternative and private investment options? Does the firm have options to support all the products you want to use with your clients?

    3. COMPLIANCE Does Compliance manage advisors to the least common denominator, resulting in arbitrary restrictions for everyone? How responsive is the Compliance Department to requests from advisors? Without violating regulatory rules, does Compliance allow you to express your convictions and values in your marketing or communication with your clients?

    4. INTERNAL RESOURCES AND ADVISOR SUPPORT How much marketing support does the firm offer? Does the firm provide useful resources for business development? How does the firm receive and respond to advisor requests?

    1. REVENUE SPLIT AND FEES: Does the top-line revenue split between the firm and advisor reflect the value provided by the firm? Are the program fees clear, transparent, and reflective of the value provided by the program? Does the firm offer billing schedules and procedures that are compatible with the advisor’s practice?

    2. UPFRONT RECRUITMENT INCENTIVE (FORGIVABLE LOAN): Does the upfront recruitment incentive give the advisor value in return for the long-term tradeoffs? What are the potential restrictions associated with the upfront recruitment check? Will the advisor be better off foregoing the initial recruitment check in exchange for business and revenue growth?

    3. BUSINESS EXPENSES: Which expenses (office, staff, etc.) are paid by the firm and which are paid by the advisor? Are the expenses paid for by the firm efficiently covered by the fees paid to the firm by the advisor? Does the firm offer benefits, and if so, what are the costs?

    4. TEAM STRUCTURE AND SUCCESSION: Is there an opportunity to team up with another advisor or team? Does the firm offer flexibility and guidance on how you build and structure your team and compensation? What succession options would you have if you joined the firm?

    1. FIRM’S NETWORK: Is the firm part of a network and ecosystem that you would find beneficial? Does the firm have public facing political and/ or social stances or affiliations that align with or contradict your desired public perception? Does the firm offer partnerships and collaborations with other organizations that will be helpful to you?

    2. PEER ADVISORS: Are there other advisors at the firm that have a similar level of experience and competency? Are there more experienced advisors at the firm to learn from? Are you motivated and encouraged by advisors at the firm who have similar values and convictions?

    3. ADVISOR CONFERENCES, EVENTS, AND MEETINGS: What annual or regular events does the firm host for advisors? Are there incentive trips for top-producing advisors? Does the firm facilitate meetings that encourage advisors to interact and network with each other

    1. CLIENT RELATIONSHIP APPROACH: Does the firm incentivize advisors to sell certain products to their clients? Does the firm set goals for advisors or require advisors to hit benchmarks for better compensation? Does the firm encourage fee-only, fee-based, andor commission-based business?

    2. WORK/LIFE BALANCE: How does the firm respond to advisors with outside business activities? Will the requirements of the firm align with your vision for time spent at work and away from work? Does the firm encourage a sense of purpose for advisors?

    3. FRIENDLINESS, COMPETENCY, AND RESPONSIVENESS OF HOME OFFICE SUPPORT: Are the firm’s internal teams competent and able to solve problems? Does the advisor trust the direction and values of the firm’s leadership? Is the firm innovative, ready to evolve with new technologies and advisor solutions?

    4. FIRM’S CAPITALIZATION (PUBLIC, P/E-BACKED, ORGANIC GROWTH): Does the firm have strong capitalization? Is the firm publicly owned, P/E-backed, or capitalized with permanent/patient capital? To what individuals or organizations is the firm accountable?

    1. ONLINE USER CAPABILITIES: Does the firm’s online user experience for advisors’ clients reflect your desired interactions? Does the firm’s planning and investment software allow the advisor to adequately educate and inform clients? Does the firm’s CRM allow the advisor to capture necessary client data and schedule interactions and communications?

    2. MARKETING RESOURCES: Does the firm offer firm-level social media marketing? Does the firm have strong and/or positive public recognition? How does the firm support advisors in marketing to clients?

    3. COMMUNICATION SUPPORT: Does the firm offer communications to be sent to clients? Does the firm allow advisors the flexibility to communicate with clients in a compliant, but personal manner? Does the firm have partnerships with other organizations that offer marketing materials and support for advisors