FROM THE BLOG

Or little fish, big pond. Little fish, little pond or big fish, big pond. That’s a lot of fish and pond.

Who knew that it would all come down to fish and ponds when determining if you are at the right broker-dealer for YOU. Really, in the end, it all comes down to that elusive ‘fit’, doesn’t it?

Maybe it’s time to really dig deep and ask yourself-

“How important are core values to the success of my firm?” or in some cases, “….to the success of the firm that I am considering?”

Take a good, hard look at yourself- is your primary driver values-based or price-based? A balance of each is essential in running a profitable business, but the one that actually really drives you will show up predominately in how you interact with others and how you handle adversity. If you are values-driven and the broker-dealer you are with or are considering is more price-based, there is sure to be an eventual clash. In this scenario, chances are that you are going to be expecting more than they are willing to give. There is no right or wrong way to be- just make sure you get the right match for YOU.

Here are some questions to ask to get to the bottom of the culture of the broker-dealer you call home now, or are thinking of calling home (and honestly, if you don’t already feel the culture of the firm you are with, then it’s pretty clear where their value lies…..just sayin’):

• In the case of a complaint, what is their procedure? What is their settlement rate vs fight rate?
• Do they have an advisor contact plan? How often do you hear from the home office? Do you enjoy hearing from them or seeing them when the opportunity presents itself?
• Do they have a statement of core values that they wear on their proverbial sleeve? How hard is it to dig into what makes them tick?
• When you have a problem, do they throw money at it to make you go away or work to resolve and understand the issue so that it doesn’t happen again?

Just some thoughts as we are starting to get into the fall, which leads to another new year of fresh beginnings. Starting to think about this now will help ensure that you start out your new year on the right foot.

Until we meet again,

Posted by Tarah Carlow Senior Vice President, Marketing & Advisor Loyalty