Why Financial Advisors should Use A 3rd Party Recruiter When Changing Broker Dealers.

Why Financial Advisors should Use A 3rd Party Recruiter When Changing Broker Dealers.

Jodie Papike from Cross-search.com discusses the importance of using a 3rd party recruiter if you are an advisor looking to change Broker Dealers or RIA’s. Below is a transcription of the video.

Welcome to Cross search. I’m Jodie Papike. Today I want to chat about why a financial advisor should use a third-party recruiter. If they’re looking to make a broker dealer or Ria change. A little bit of history on our firm. My father started our company in the late 80s because he felt like there was a true need for financial advisors to have representation that could help guide them through the phase of not only identifying a firm that would be best suited for them, but through the entire process, through the transition to a new firm. The first thing that I think a good consultant can do for an advisor is save them a tremendous amount of time. I talked to so many advisors once. They’ve talked to several firms, and the process can feel incredibly overwhelming because firms all start to sound the same. But a good consultant can ask the right questions to the advisor first, truly identifying what’s most important to them and what is not working at their current firm, so that they only talk to firms that are a good fit for them so that they don’t have to waste time. The second thing is, a good consultant can give an advisor true insight into the marketplace that they’re not going to get on their own. Unfortunately, a lot of recruiters that represent one firm, they may not tell an advisor the things that are not working at that company, but a consultant is talking to advisors from all over the industry all day long. We’re hearing what’s not working, who’s having service issues, what firms may be up for sale, what firms have compliance issues. So, we have the real inside scoop in the entire marketplace of who’s doing a good job and who may be struggling. The third thing is, a good consultant can uncover opportunities for advisors that they may never know about on their own. There are obviously big names in our industry that everyone’s heard of. An advisor can find those firms, typically on their own, but a good consultant is bringing opportunities to the table that the advisor simply didn’t know existed. And the last thing is, a consultant should have a process that protects you through the process, giving you insights and leading you through the process. For example, if an advisor is leaving an employee situation where they have a contract, a consultant can give you connections and make sure that you’re protected in that situation. Like I mentioned, coming from where you’re an employee, there may be a situation where an attorney should be brought into the process, and a good consultant can really protect that process. For the advisor. So, in summary, if you want to make a broker, dealer or RIA change, I think the best question to ask is why not use a third-party recruiter? If a recruiter can show you opportunities that you wouldn’t know about on your own? If they can save you time and energy so that you can focus on continuing to stay in front of your clients and they can show you the best financial opportunities, um, available. And on top of that, the service costs you nothing. Then why not use a third-party recruiter? If you have any interest in exploring your opportunities, give us a confidential call, we look forward to hearing from you.

Jodie Papike

Jodie Papike is the CEO & Managing Partner of Cross-Search, the first third-party, independent broker dealer advisor and executive placement firm. Since joining Cross-Search in 1997, Jodie has been consulting with financial advisors transitioning to new independent broker dealers, guiding them through the entire process of identifying their most appropriate options, negotiating a deal and transitioning clients. Jodie has an intricate knowledge of the securities industry and a deep understanding of each of the major independent broker dealer firms, enabling her to help advisors find and transition to a broker-dealer that best suits their needs. Cross Search has placed thousands of advisors, producing more than 375 mill. in gross dealer concessions. Jodie takes the utmost pride in finding a firm for an advisor that will not only better their career, but will also be a good home for them for years to come. Jodie is a frequent speaker at industry conferences, is regularly quoted and published in publications such as Investment News, Registered Rep, Financial Planning, Life Insurance Selling and Advisor One. Jodie earned a Bachelor of Arts degree from San Diego State, graduating with honors.