For a lot of advisors, discovering their “North Star” is a journey to establish what’s most necessary to their companies and their lives.
That realization usually serves as the inspiration for a renewed dedication to their agency or as a motivation for change.
Nathan Harris began his profession at Merrill in 2006 and joined a group of eight. His expertise on the agency was not in contrast to many different advisors we communicate with: He labored with an important group and constructed a stellar enterprise, but he began to acknowledge the agency’s “development of modifications.”
So Nate dove headfirst into due diligence to discover the choices out there to him. He spoke to “at the very least 100 people,” as he put it, and crammed a whole pocket book with data that he and his now associate Jeff reviewed all through the train.
They determined that their North Star was based on the ethos {that a} change needed to be higher not just for their purchasers but additionally for his or her group and themselves.
And one factor got here to mild early within the course of: Every really could possibly be higher.
After exploring a wide range of corporations and fashions, they made the leap to independence and launched Covenant Capital with Raymond James impartial dealer/supplier mannequin in 2021.
On this episode, Nate shares a compelling narrative with Jason Diamond, together with:
- The development line of evolution at Merrill—and the way that impacted the choice to make the leap.
- RIA vs. IBD—and what drove the choice to decide on the impartial dealer/supplier mannequin.
- Breaking apart a group—and why some selected to remain at Merrill as a substitute of transitioning to Raymond James.
- The method of due diligence—and why he sees it as a priceless train any advisor ought to embark on periodically.
- The logic and emotion of decision-making—and easy methods to account for each.
- Plus, Nate presents actually priceless recommendation on easy methods to assess your corporation life—and preserve your north star on the helm.
