Select the Greatest Agency Associate for Your Advisory Enterprise

Monetary advisors depend on their relationship with their agency associate for a wide range of capabilities, from back-office assist to apply administration steering and extra. However there’s a distinction between a agency that gives one-size-fits-all service and one which permits you to elevate and develop your advisory enterprise in your phrases.

When you’re contemplating making a transfer—particularly should you’re transferring from a wirehouse or worker mannequin to the world of independence—selecting the most effective agency associate means trying past an enormous identify, shiny sign-on bonus, and slick advertising and marketing. Whereas these are enticing short-term advantages, discovering the fitting associate who aligns together with your imaginative and prescient and targets will set you up for long-term success.

Uncertain the place to start out? Ask your self the next questions that can assist you discover the most effective agency associate for you, your advisory enterprise, and your shoppers.

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

Begin by inspecting your private {and professional} targets utilizing these guiding questions:

Would you like the liberty to offer your shoppers with extra artistic and customised options?
Do you wish to concentrate on 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 most effective agency associate could have a company philosophy and tradition that helps the enterprise you’re constructing and who you’re 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 dwelling 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. Discuss to different advisors—each just lately transitioned and those that have been round some time—to get to know the neighborhood of pros you’d be becoming a member of.

The Commonwealth distinction. Commonwealth is a privately held firm constructed on high quality, neighborhood, and a dedication to an advisor-centric tradition. Our close-knit neighborhood, mixed with the sources, know-how, and adaptability it is advisable run a modern-day agency, makes us a singular selection.

The assist community inside Commonwealth is in contrast to something I may have probably imagined. . . . [They have] the tradition and the sources to make my agency and the consumer expertise precisely how I need.

Matt Ramer, MOR Wealth Administrationwith Commonwealth since 2013

How Can the Agency Assist Your Enterprise In the present day—and Tomorrow?

Monetary advisors desire a agency associate 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 trade has created a necessity for dealer/sellers to have the ability to pivot as laws or know-how evolve. As you interview potential agency companions, ask how modifications are applied and request real-world examples of how they embrace change and evolution. Maybe most significantly, learn how advisor suggestions influences necessary agency choices.

How will you understand? Discover alternatives for affiliated advisors to offer their suggestions and ask how that suggestions is triaged, acted on, and listened to. Are you sending an electronic mail to a common inbox, or do you will have direct entry to the agency’s CEO? How a lot enter do advisors have with the know-how instruments and sources provided? Search for a agency that values your strategies 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 proposals on how we will enhance our present choices. Customers may even upvote others’ concepts to maneuver enhancements larger up on the listing. Our subject material specialists monitor this software and sometimes reply to or escalate considerations inside 24 hours.

Previous examples of suggestions-turned-reality embrace upgrades to our cell examine deposit software, 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 together with your shoppers, or navigating compliance questions and know-how points, how does the agency’s advisor assist stack up? How will the agency’s insurance policies make it easier to run your online business 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 online business on a extra private degree. Our commonsense method to decoding laws permits you to run your agency with confidence. And our outsourced enterprise options—from advertising and marketing assist to managed portfolios—make it easier to obtain scale, providing you with extra time to spend with shoppers.

As an advisor, your perspective uniquely shapes your agency. So, why accept cookie-cutter service when selecting the most effective agency associate? Whether or not you’re a solo advisor, a part of a staff, or operating an enterprise apply, Commonwealth supplies 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 apply.