In this episode of Advisor Talk, Elite Consulting Partners CEO Frank LaRosa is once again joined by Brian Neville, Founding Partner of Lax & Neville, for a candid discussion which hones in on the enterprise value of teams and the strategic importance of having a team agreement in place to protect all advisors involved.

Topics covered in the conversation include:
*the particulars of what constitutes a team agreement and how the nuances of these agreements can differ from firm to firm.
*the important role varying advisor personalities can play in successful teams, how these same personality differences may lead to a team's downfall, and how to manage this duality for successful team operation.
*evaluating key triggers that can result in team dissolution and why establishing a formulation for team operation and potential team dissolution is a necessary step required at the outset of any new team formation.
*the correlation between team agreements and transparent succession plans for the benefit of all parties involved.

Establishing advisory teams is where the puck is heading in financial services, and team agreements are a vital part of that process. It's time for advisors considering the team opportunity to get honest with themselves about both the upside and downside of operating a team. Take advantage of the opportunity presented in this episode and listen as Frank and Brian offer the roadmap to capitalize on the benefits of advisory teams through the efficiencies and protections a team agreement provides.

In this episode of Advisor Talk, Elite Consulting Partners CEO Frank LaRosa is once again joined by Brian Neville, Founding Partner of Lax & Neville, for a discussion which covers the legal complexities surrounding acquiring a book of business and the implications these agreements have on an advisor's ability to transition in the future.

Key discussion topics include:
*how agreements for acquiring books of business vary between the wirehouse and independent space, and even from wirehouse to wirehouse.
*why due diligence is the key to successfully acquiring another advisor's book and how thoroughly reading and understanding the agreement you are committing to is essential.
*protocol vs. non-protocol firm agreements for book acquisition and how these agreements can impact the portability of your book if you want to transition to another firm.
*why the nature of the relationship between the seller of the book of business and the buyer matters and the importance of effective and efficient communication to the acquisition process.
*the imperative of seeking your own trusted legal counsel when navigating a deal to acquire a book of business.

Frank and Brian get specific, discerning potential liabilities and offering key strategies advisors can put into action now if acquiring a book of business is part of their operational strategy. Be prepared to bookmark this episode as it will be one to refer to again and again for its detailed discussion of the subject.
 

Some of the key take-aways from Frank and Dale's discussion include:
*the many ways firms provide capital to advisors and how to evaluate whether the offer you may be receiving is too good to be true.
*crypto currency and why some advisors are trending towards the opportunity as part of their must-have firm partner criteria.
*opportunity, technology, compliance, and the role all three play in the 'you can't do that' versus 'you can't do that here' conversation between advisors and their firm partners.
*lending as a catalyst for providing clients with profitable and impactful solutions.
*how the product, service, and pricing mix a firm offers affect an advisor's decision to transition.

It is important to understand that there is an ideally suited firm partner for every advisor looking to make a move. It's a matter of an advisor delineating the 'need to haves' versus the 'want to haves' on their wish list and then working with a consultant to find the right firm partner fit. Use this episode as your insider's guide as Frank and Dale give a snapshot on just how impactful the informed counsel of consultants such as themselves can be for advisors considering their transition opportunities.

Topics of note include:
*the legacy of the Stifel firm, its culture of entrepreneurship, and the impact those factors have had on the success of its independent model.
*which advisors align with the Stifel Independent Advisors value proposition and how that synergy fosters practice growth.
*the long-term vision for Stifel Independent Advisors and the strategic direction behind that vision.
*why advisors are choosing independence, where the industry is going, and how Stifel Independent Advisors is staying ahead of the curve.

The discussion between Frank, Alex, and Tim is an energetic take on why the independent model has proved so impactful in the financial services industry. The dialog is candid, real, and a must-listen for every advisor considering what independence might mean for them.

Insights covered include:
 

• clearly defining your purpose so all actions you take are aligned to that end.
   
• how clearly defining your core values are essential to team building and company growth.
   
• the duality between clear brand messaging and unified company action toward a goal.
   
• why focusing only on the money is the worst mistake a transitioning advisor can make.
   

If you lead with purpose, everything else falls into place. This isn't just a business lesson; it's a life lesson and the advice Frank and Dale share prove transformative to every advisor willing to listen.

Key themes of the conversation include:
*why relying on a consultant as your trusted guide can help you avoid missteps when making a move to a new firm.
*understanding that all consultants are not created equal and that finding the right guide for your transition to a new firm partner is key to success.
*how being receptive, listening, and learning throughout the due diligence process will ultimately realize the best transition deal and the right firm partner fit.
*why a proven process is the essential road map to navigating your transition.

A successful journey is only achieved by knowing the outcome you desire. This holds true in mountain lion hunting as well as in financial advisor transitions. The analogies Frank and Dale present in their dialog are instructive, insightful, and will serve every advisor well as the embark on their own hunt for the right firm partner.

Frank and Jon put their decades of expertise to work providing thought leadership on:
 

1. The journey from practitioner to enterprise and managing your growth trajectory for scale and success.
    
2. The importance of creating a demonstratable value proposition for your practice and dialing in your processes for maximum market impact.
    
3. A deep dive discussion on CPA partnership potential and how these partnerships can significantly, and rapidly, level-up practice growth when executed properly.
    
4. Specific strategic insight on centers of influence, M&A, and in-organic growth opportunities.
    
5. Tangible differentiators that attract and retain young advisory talent.
    

Be sure to save this episode as the wealth of actionable content Frank and Jon share is immense and you will certainly want to refer to it again and again as you develop the growth strategy for you own practice.

In this episode of Advisor Talk, Elite Consulting Partners CEO Frank LaRosa welcomes Kimberly Sanders, Senior Vice President, Advisor Business Strategy, Strategic Wealth Services at LPL Financial for a conversation that offers listeners a true insider's perspective on the 'secret sauce' behind the model's success.

Get ready to take plenty of notes as Frank interviews Kimberly about:
*How LPL has scaled the Strategic Wealth Services model to provide the dedicated resources and support advisors need to continually level-up their practices.
*The compare and contrast benefits between LPL's Strategic Wealth Services versus an advisor tucking into a larger OSJ.
*From the trenches stories about advisors currently a part of the LPL Strategic Wealth Services model and the tangible business impacts they are experiencing.
*The entrepreneurial DNA that makes a practitioner the right fit for the LPL Strategic Wealth Services model.

Frank and Kimberly offer up a deep-dive into just what makes LPL's Strategic Wealth Services model tick. Advisors are certain to come away from this episode with plenty of food for thought on how the model's construct could influence not only the growth of their own book of business but also the achievement of their personal goals and aspirations.
 

Topics of discussion include:
*protocol versus non-protocol firms and the basic mistakes advisors make when leaving a non-protocol firm.
*why it is important for transitioning advisors to be informed of their receiving firms' rules for client information and the imperative of remaining consistent within that paradigm.
*best practices for handling client contact information within the digital space.
*what advisors can and cannot say to clients prior to making a move to a new firm partner.
*why seeking your own legal counsel is a must for every transitioning advisor.

The information provided by Frank and Brian isn't just informed, it's actionable for every advisor. Listen and learn how to successfully confront the spectrum of legal nuances surrounding a transition and move forward with confidence.

In particular, this episode focuses on client solicitations when making a move. Topics covered by Frank and Brian include:
 

1. Understanding your employment agreement, its restrictions, and how these can impact a transitioning advisor.
    
2. The importance of knowing before your move the policies of the firm you are transitioning to, as well as the firm you are moving from.
    
3. What to do and what not to do when soliciting clients after your move.
    

Making a move to a new firm partner is one of the most important decisions a financial advisor will ever make, both from a career and a financial perspective. Informed legal counsel as part of that process is an imperative. Listen and learn from Frank and Brian and then put their guidance into action.