Select the Finest Agency Accomplice for Your Advisory Enterprise

Monetary advisors depend on their relationship with their agency companion for quite a lot of capabilities, from back-office assist to follow administration steerage and extra. However there’s a distinction between a agency that gives one-size-fits-all service and one which means that you can elevate and develop your advisory enterprise in your phrases.

If you happen to’re contemplating making a transfer—particularly if you happen to’re transferring from a wirehouse or worker mannequin to the world of independence—selecting the very best agency companion means wanting past a giant identify, shiny sign-on bonus, and slick advertising. Whereas these are enticing short-term advantages, discovering the suitable companion who aligns along with your imaginative and prescient and objectives will set you up for long-term success.

Not sure the place to start out? Ask your self the next questions that can assist you discover the very best agency companion for you, your advisory enterprise, and your purchasers.

Do the Agency’s Values and Tradition Align with Your Personal?

Begin by analyzing your private {and professional} objectives utilizing these guiding questions:

• Would you like the liberty to supply your purchasers with extra artistic and customised options?

• Do you need to deal with holistic monetary planning reasonably than chasing the inventory market?

• Is having the autonomy to make enterprise choices a brand new precedence?

Past the providers you obtain, the very best agency companion could have a company philosophy and tradition that helps the enterprise you’re constructing and who you might be as an advisor.

How will you understand? You probably have a possibility to go to the house workplace, pay shut consideration to the way you and your employees are handled and the way house workplace employees work together with each other. Search for immediate and clear replies to your questions, open entry to management, and a collegial surroundings—all seemingly small issues that reveal a much bigger image. Speak to different advisors—each just lately transitioned and people who have been round some time—to get to know the group of execs you’d be becoming a member of.

The Commonwealth distinction. Based in 1979, Commonwealth was constructed on high quality, group, and a dedication to an advisor-centric tradition. Our close-knit group, mixed with the sources, expertise, and suppleness it’s essential to run a modern-day agency, makes us a novel alternative.

How Can the Agency Assist Your Enterprise Immediately—and Tomorrow?

Monetary advisors desire a agency companion with the heft, scale, and instruments to assist them run and develop their enterprise. On the identical time, the ever-changing panorama of the monetary providers business has created a necessity for dealer/sellers to have the ability to pivot as rules or expertise evolve. As you interview potential agency companions, ask how modifications are carried out and request real-world examples of how they embrace change and evolution. Maybe most significantly, learn the way advisor suggestions influences essential agency choices.

How will you understand? Discover alternatives for affiliated advisors to supply their suggestions and ask how that suggestions is triaged, acted on, and listened to. Are you sending an electronic mail to a basic inbox, or do you might have direct entry to the agency’s CEO? How a lot enter do advisors have with the expertise instruments and sources provided? Search for a agency that values your solutions and builds infrastructure with advisors in thoughts.

The Commonwealth distinction. Commonwealth has constructed a tradition of accessible communication and transparency. With direct entry to our assist groups and senior leaders, you possibly can relaxation assured that we not solely hearken to your suggestions however act on it.

Our Suggestions Discussion board permits advisors and their employees to submit questions, feedback, and suggestions on how we will enhance our present choices. Customers may even upvote others’ concepts to maneuver enhancements increased up on the record. Our subject material consultants monitor this device and sometimes reply to or escalate issues inside 24 hours.

Previous examples of suggestions-turned-reality embody upgrades to our cell verify deposit device, digital onboarding course of, and CRM training supplies.

What Do Help and Service Actually Look Like?

From day-to-day operations like opening accounts, speaking along with your purchasers, or navigating compliance questions and expertise points, how does the agency’s advisor assist stack up? How will the agency’s insurance policies provide help to run your corporation extra effectively, and the way does it put time again into your day?

The Commonwealth distinction. We proudly provide a 2:1 advisor-to-staff ratio*, which permits us to get to know the ins and outs of your corporation on a extra private stage. Our commonsense method to decoding rules means that you can run your agency with confidence. And our outsourced enterprise options—from advertising assist to managed portfolios—provide help to obtain scale, supplying you with extra time to spend with purchasers.

As an advisor, your perspective uniquely shapes your agency. So, why accept cookie-cutter service when selecting the very best agency companion? Whether or not you’re a solo advisor, a part of a crew, or working an enterprise follow, Commonwealth offers the assist and sources your advisory enterprise wants. Discover our advisor options to learn the way we assist advisors such as you evolve, develop, and streamline your follow.

* As of 12/31/23