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Welcome to another episode of AdvisorTrends, 3xEquity's podcast on advisor transitions and strategies for growing your practice. It’s New Year’s, and for many of you, that means it’s time for your local Polar Bear Plunge. In this episode, we’ll dive into how this icy tradition is the perfect analogy for exploring a transition to a new broker-dealer. Grab your coffee and let’s go!

If you’ve ever taken part in a Polar Bear Plunge, you know it’s an experience like no other. On the morning of New Year’s Day, you and hundreds of others gather at the edge of a freezing lake. You’re bundled up, questioning your life choices, but you’re committed. On the count of three, you strip down to your swimsuit, brace yourself, and charge into the water.

Sounds exhilarating, right? Well, maybe once it’s over. But here’s the truth: the plunge is 98% mental. The thoughts running through your head beforehand are the real challenge. “It’s too cold.” “What am I doing?” “This is going to be awful.” And yet, as soon as you’re in, you realize it’s not as bad as you’d imagined. In fact, the water is often warmer than the air, and the real cold part comes when you’re running back to find your towel in the mud.

Now, how does this relate to transitioning to a new broker-dealer? It’s all about the mindset. Just like the Polar Bear Plunge, making a move is mostly mental. The hardest part is overcoming the fears and doubts that keep you stuck. Will it be too hard? What if it’s not the right fit? What if I regret the decision?

Here’s the thing: once you take the leap, you’ll find that the transition is often easier than you’d expected. Sure, there are adjustments, but you’ll also get that adrenaline rush that comes from making a bold move—from doing something that can significantly impact your year and your career for the better.

At 3xEquity, we’re here to help you take that plunge. If you’re thinking about exploring a transition in 2025, we’ll guide you through the process, ensuring your needs and goals are met. We’ll help you find the best fit and maximize your transition package, all while keeping you 100% anonymous until you’re ready to engage directly with a broker-dealer. And the best part? Our services are completely free to you. You’ll get expert advice and assistance without paying a dime.

So, whether you’re standing on the shoreline of a freezing lake or weighing the pros and cons of a move to a new broker-dealer, remember this: the hardest part is committing to take that first step. Once you do, you’ll be surprised by how quickly things start to fall into place.

Before we wrap up, here are three quick tips for those of you gearing up for an actual Polar Bear Plunge:

Happy 2025! Where will you grow this year? Thanks for tuning in to this episode of AdvisorTrends. Until next time, keep challenging yourself and growing your practice with bold moves.

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Undoubtedly, lots of good things will happen in 2025 and we don’t want to skip over it completely, but 2026 might be where it's at, especially for advisors who are eyeing a transition. As we close out 2024, here are key reasons why 2026 should already be on your radar:

 Get on the Glide Path

The best transitions aren’t rushed; they’re planned. Although some transitions can take just weeks, most require a few months, and the most seamless moves can take up to a year or more. Starting your journey early—by exploring opportunities and securing offers now—positions you to act with clarity and confidence. Knowing where you stand allows you to:

Takeaway: Begin exploring your options now to ensure you’re in control when the time is right.

Grow to Increase Your Payout

BDs continue to reward top-producing advisors with outsized transition packages. If maximizing your payout is a priority, use 2025 to focus on growth. The earlier you expand your book of business, the more it will reflect in your trailing 12-month production (T12), which most BDs use to calculate their offers.

Consider strategies to:

Takeaway: Treat 2025 as your runway for growth and watch your 2026 opportunities soar.

The Best Defense Is a Good Offense

The financial industry has been shaken by mergers and acquisitions in recent years, leaving many advisors displaced or working under a BD they didn’t choose. By proactively planning your transition, you gain control over decisions that appear beyond your control.

When you’re already moving towards a transition:

Takeaway: Proactively plan your move to stay ahead of industry shifts.

Partner with a Transition Consultant to Maximize Your Potential

A smooth and successful transition starts with expert guidance. That’s where a transition consultant like 3xEquity comes in. By working with 3xEquity, you can:

With 3xEquity, you’re not just reacting to opportunities; you’re controlling the conversation about your career.

Takeaway: Collaborate with experts to ensure a smooth and successful transition.

As the clock ticks down on 2024, don’t just look forward to 2025. Think bigger. Think 2026. The groundwork you lay today can create opportunities beyond what you’ve imagined. Ready to take the first step? Let 3xEquity help you turn your plans into reality. The future is closer than you think—start building it now.

Learn more at 3xEquity.com

As we close out another year marked by significant transition activity in the financial advisory space, it’s clear that for many, the decision to move isn’t just about dollars and cents—it’s about satisfaction, growth, and building a better future.

Still, skepticism lingers among advisors weighing their options. If you’re one of them, let’s take a look at the numbers.

One of the biggest concerns for advisors is the time and disruption a transition might bring. However, recent data from LPL Financial should put some of those worries to rest. In 2023, the average transition took just 45 days. Even more encouraging, advisors were able to transfer an average of 87% of their AUM within the first two months.

For those who value speed and simplicity, services like 3xEquity offer a game-changing advantage. They provide a faster path to multiple offers from top broker-dealers, empowering advisors to take control of their careers with less hassle.

The short answer? Yes.

According to Fidelity, nearly all advisors (92%) who transitioned in recent years report being happy with their decision. But it’s not just about personal satisfaction. A significant majority (80%) say they are in a better financial position post-move.

And the numbers back it up: advisors who’ve been with their new firms for three to five years saw an average AUM increase of 59%—jumping from $105M pre-move to $167M post-move. That kind of growth is not just career-altering; it’s life-changing.

Perhaps most telling of all, satisfaction skyrocketed after the move. Before transitioning, only 8% of advisors reported being satisfied with their firm. After making the leap, that figure surged to 67%.

For those still on the fence, the good news is that the process doesn’t have to be daunting. Transition consultants, like those at 3xEquity, remove the hassles, helping you remain laser-focused on serving your clients. Their expertise turns an intimidating process into an empowering experience, offering you tailored solutions and support every step of the way.

As 2025 approaches, it’s worth asking yourself: Am I truly satisfied where I am? If the answer is no, the data tells a compelling story—it might be time to take the leap. Because while money might not buy happiness, moving to the right firm just might.

The Transition Timeline: Faster Than You ThinkIs the Grass Greener on the Other Side?Making the Move Easier

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UBS has joined Morgan Stanley, Wells Fargo, and Merrill Lynch in unveiling updates comp plans for 2025 aimed at growth and profitability—but not without ruffling some feathers.

UBS made waves with its decision to abandon its unique team-based grid rate system in favor of what looks like a  “Best Ball” approach, where team members’ payouts are based on the highest producer’s individual revenue. For some high-performing teams generating $10 million or more in revenue, the shift could mean pay cuts of roughly 4%. Lower-producing advisors will also feel the squeeze, with core payout grid rates trimmed by as much as four percentage points for brokers under $750,000 in production according to reporting by AdvisorHub.

To offset these cuts, UBS is offering a revamped growth award with bonuses of up to 4.5% of revenue for hitting targets like net new money and client relationship growth. Banking product payouts are also seeing a modest bump, such as lines of credit increasing to 15% from 11%.

UBS’s focus on profitability comes amid scrutiny of its lagging U.S. wealth unit, which posted a 12% profit margin last quarter compared to Morgan Stanley’s impressive 28%. With cost pressures mounting, some brokers feel the squeeze, leaving many to wonder if the grass might be greener elsewhere.

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Welcome to AdvisorTrends, the podcast for financial advisors navigating career transitions and seeking the best fit in the world of broker-dealers. Today, we're diving into a question many advisors face at some point in their careers: “When is the right time to leave Edward Jones?” We’ll explore the common reasons advisors consider making a move, the challenges they face in doing so, and how to ensure a smooth transition when the time is right.

Recently, a Reddit post from an Edward Jones advisor caught a lot of attention. This advisor has been with Edward Jones for six years, manages a $70 million book, and has a trailing 12-month gross of $500,000. They were recently offered a very attractive package from another firm—a significant cash bonus, partnership shares, and a 70% payout. But with a young family depending on them, they’re cautious about making a big leap. Their main question was: “Is there ever a right time to leave Edward Jones?”

To answer that question, let’s explore some of the pain points that many Edward Jones advisors experience, and why they might be motivated to look for opportunities elsewhere.

One of the most common frustrations is limited independence and flexibility. Edward Jones provides a strong structure, but for advisors who want to offer their clients a more customized service model or access to a broader range of investment options, this can feel restrictive. When advisors feel they can’t tailor their offerings to meet unique client needs, they may feel like they’re leaving potential opportunities on the table.

Another major factor is compensation. Edward Jones offers a steady income structure, but it doesn’t always allow top producers to fully maximize their earning potential. Many advisors find that alternative broker-dealers provide higher payout percentages, equity options, and greater financial upside—especially for those who are generating substantial revenue. For advisors generating $500,000 or more in annual gross revenue, a move to a model with a higher payout can lead to a significant increase in annual income.

Beyond compensation, there’s the issue of control over client data and operational processes. At Edward Jones, advisors often feel like they don’t fully “own” their client relationships. Control over data, decisions around client servicing, and even day-to-day business operations can be more limited than many advisors would like. This can restrict growth, as it’s challenging to scale and customize client services without full autonomy.

Succession planning and legacy building are also concerns for advisors at Edward Jones. Advisors who have spent years building their business may start thinking about the future—whether they want to pass their book of business on to a successor or make it a lasting legacy. Without clear paths to equity or ownership, some feel they’re building a business for the firm, rather than creating a lasting legacy for themselves and their families.

Now, let’s shift to the opportunities that exist outside of Edward Jones. Many advisors who move to other firms or to an independent model discover more flexibility in crafting client solutions. They can build portfolios or service models specifically tailored to their clients’ needs, which leads to deeper relationships and, often, greater client retention.

For many high-producing advisors, the prospect of a higher payout structure and equity opportunities is particularly appealing. Firms that offer payouts of 70% or more, along with partnership shares or equity, provide an income model that grows as advisors succeed. Over time, these models create the potential for wealth accumulation that goes beyond annual compensation.

A move away from Edward Jones can also provide more ownership over client relationships...

https://3xequity.com/blog/when-is-the-right-time-to-leave-edward-jones

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Unlike in pro sports, the wealth management space doesn’t have a trade deadline, but if it did B.Riley and Stifel just made a huge deadline deal, and the optics are…awkward.

According to AdvisorHub, B. Riley Financial Inc. is handing over a portion of its wealth management division to Stifel Financial Corp. for up to $35 million. The deal, part of B. Riley’s bid to stop the financial bleeding, involves 40 to 50 advisors managing between $3.5 billion and $4.5 billion in assets.

But here’s where things get weird: B. Riley has about 400 advisors overseeing a collective $25 billion. So if Stifel cherry-picked this top slice, what message does that send to the advisors left behind? Are they seen as B. Riley’s core team…or just the leftovers?

For those advisors still at B. Riley, it’s hard to ignore the writing on the wall. This cash infusion might help B. Riley shore up operations and stabilize — but does it mean their sell-off is over? For advisors sticking around, one big question looms: Did B. Riley fight to keep you, or did Stifel decide to pass?

We’re hearing that Stifel is offering some tempting transition incentives to the advisors coming on board, with some packages that are hard to resist. And, as always, we recommend that any advisors facing a ”forced” transition take a moment to see what else is out there. Other broker-dealers may offer better compensation, technology, and support. After all, if you’re thinking of making a move, shouldn’t you have some say in where you land?

For those advisors still at B. Riley, what’s your plan? Who do you want to control your career?

Whether you’re mulling over an offer or just curious about your options, it’s time to take control of the conversation. By reaching out to 3xEquity, you can secure multiple offers and explore potential fits — all while remaining 100% anonymous. Ready? Get started now.

Learn more at 3xEquity.com.

Will Guidara, recognized for his transformative influence on hospitality through his work at Eleven Madison Park, as well as his roles as writer, co-producer, and actor on the TV show The Bear and author of the New York Times bestseller Unreasonable Hospitality, offers insights that financial advisors can adapt to enhance client relationships and service. Here are a few key takeaways that advisors might consider:

By embracing Guidara’s client-centric philosophy and his father’s career advice to ‘Run toward what you want, as opposed to away from what you don’t want,’ financial advisors can cultivate enduring relationships while also navigating meaningful transitions in their professional journeys.

For advisors weighing the prospect of moving to a new broker-dealer, this mindset can help shape a meaningful and positive transition. Rather than feeling compelled to leave because of frustrations or limitations, advisors should evaluate what they genuinely want to gain from their new partnership.

Running ‘toward what you want’ could mean pursuing a broker-dealer that offers cutting-edge technology that enhances both advisor efficiency and client experience. It could also mean selecting a firm that provides a broader range of products to better serve diverse client needs or finding a structure with improved compensation through higher payouts or attractive transition bonuses.

Guidara’s life lesson highlights that transitions made with purpose and a clear destination in mind are more fulfilling and enduring. For advisors, this approach can lead to a smoother and more rewarding move, ultimately benefiting both their practice and their clients.

For advisors considering their next career move, partnering with a transition consultant like 3xEquity can provide clarity on what they should be running toward. Much like Guidara’s philosophy of taking care of employees so they can take care of customers, 3xEquity is committed to supporting advisors so they can focus on what matters most: their clients and goals.

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Welcome back to AdvisorTrends, the podcast where we break down the latest developments in the financial industry to help you make informed decisions. I’m your host, and today, we’re diving into the 2025 compensation plans just released by three of the industry’s biggest players: Morgan Stanley, Wells Fargo, and Merrill Lynch. These firms are the first out of the box to unveil their new comp plans, with others expected to follow suit. We'll take a look at what’s changing, how it could impact you, and whether now might be the right time to consider making a move.

Let’s start with Morgan Stanley. According to reporting on AdvisorHub, Morgan Stanley is sweetening the pot for advisors who refer clients to other divisions within the firm. This is part of CEO Ted Pick’s goal to build a more "integrated firm" that leverages its massive $5.7 trillion-asset wealth management business.

What does that mean for you, the advisor? Starting in 2025, if you refer clients to specialists in retirement planning, ultra-high net worth advising, or other divisions, you’ll receive a 60% payout on revenue generated from those accounts. That’s a big bump from the standard grid rate of between 28% and 55.5%. Morgan Stanley is also increasing payouts to 65% if you refer clients to its investment bank or other units, making collaboration within the firm more lucrative than ever.

Now, on to Wells Fargo. They’re taking a steady approach with minimal changes, but there are some adjustments advisors should be aware of. Wells Fargo is keeping its core comp structure the same but raising the bar for smaller accounts and low-producing advisors.

Advisors handling accounts under $250,000 will now see reduced payouts—part of Wells Fargo’s ongoing strategy to encourage advisors to focus on higher-value clients. The minimum production level to avoid the “penalty box” is also increasing to $330,000 annually. But here’s the silver lining: Wells Fargo is offering a $500 bonus for every client who opens a checking account, rewarding advisors who help grow their banking relationships.

And then there’s Merrill Lynch. Unlike its competitors, Merrill is keeping its 2025 compensation plan unchanged for the second consecutive year. According to AdvisorHub, Merrill’s Co-Head Eric Schimpf said the firm is focused on providing consistency and stability to its advisors. The core cash payout grid and bonuses will remain the same, which is good news for those who prefer predictability in their earnings. After a strong year of growth—nearly 80% of Merrill’s advisors had record revenue—sticking with the same comp plan makes sense for many within the firm.

Now, let’s talk about what this means for you as an advisor. If you find yourself negatively impacted by any of these changes—whether it’s higher hurdles, lower payouts for smaller accounts, or even just a lack of growth incentives—you might be wondering if now is the time to make a move.

With 2024 still open, there’s definitely time to consider your options and make a transition before the new comp plans take full effect. And here’s where a transition consultant like 3xEquity can be a game-changer.

Working with a consultant like 3xEquity can provide you with invaluable insights into how these compensation changes will impact your earnings and growth potential. 3xEquity specializes in helping financial advisors find the best fit for their practice by offering detailed comparisons of compensation structures across firms. They can help you assess whether the grass is greener elsewhere and guide you through the entire transition process.

Whether it’s understanding the fine print of signing bonuses or negotiating the best deal for your book of business, 3xEquity can help you make a smooth, informed transition. If you’re thinking about making a move, now could be the perfect time to explore your options, before 2025 rolls in with its new comp plans.

Learn more at 3xEquity.com

The number one fear among financial advisors considering a move to a new broker-dealer is this: “Will my assets move with me?” And it’s not hard to understand why. After all, wealth management requires some wealth to manage, and you’ve likely worked hard to cultivate the assets you currently oversee. The thought of losing any portion of that hard-earned book of business can be daunting.

But here’s the good news—assets do move, and overwhelmingly so. In this article, we break down exactly why clients move their assets with their advisors (spoiler alert: it’s more common than you think) and how you can make the process smoother for yourself and your clients.

A Frictionless Process

One of the most significant hurdles advisors used to face when moving to a new firm was the administrative burden. Repapering accounts, coordinating compliance, and keeping clients in the loop could take months of intense effort. But broker-dealers have evolved, and today, the process is designed to be almost effortless for advisors.

Firms now deploy entire teams whose sole purpose is to handle these complex transitions. These transition teams take care of repapering, regulatory paperwork, and asset transfers, so you don’t have to. In fact, some broker-dealers go as far as flying in teams to your office, taking over the logistics while you focus on communicating with your clients. With this kind of support, the headache of transitioning assets is almost non-existent.

Clients Love You, Not the Firm’s Name on the Door

Let’s face it—while the brand name on the door has some cachet, clients are ultimately loyal to *you*, not the firm. After years of providing sound advice, personalized strategies, and seeing your clients through both calm and stormy markets, they trust your guidance. The data backs this up: according to the JD Power Financial Advisor Satisfaction Survey, 63% of investors say they would leave their firm to follow their advisor if he or she left. This statistic speaks volumes about the bond advisors build with their clients over time.

Clients value the relationship they’ve built with their advisor far more than the brand behind them. When you decide to make a move, as long as you clearly communicate how it benefits them, your clients will be right there with you.

Moving Toward Something Engages Excites Clients

Advisors don’t just move away from something—they often move *toward* something better. Whether it’s better technology, access to a wider range of investment options, or an enhanced client experience, a new broker-dealer can offer fresh opportunities that directly benefit your clients.

When you frame your move as a positive step forward—whether it’s cutting-edge financial tools, innovative products, or streamlined services—clients see it as an upgrade. They’re not just following you because they trust you; they’re excited about the new possibilities your move brings to their financial future.

Why Working with a Transition Consultant Matters

Even though the process of moving is much easier today, having an expert guide can be invaluable. That’s where working with a transition consultant like 3xEquity comes in. At 3xEquity, we specialize in helping advisors make the smoothest possible transition by acting as your personal guide through the process. We handle the negotiations, secure offers, and coordinate the move so you can focus on your clients.

Best of all, you remain 100% anonymous while exploring offers, allowing you to evaluate your options without the pressure of committing right away. With 3xEquity, you’ll have the peace of mind knowing that every detail is managed, and you can secure the best deal for your future without disrupting your current business.

Assets Move—Should You?

In today’s environment, the question “Will my assets move with me?” is increasingly answered with a resounding yes. The process is easier than ever, client loyalty is tied to you, and the potential to offer better services excites clients. In fact, the JD Power survey noted above reports that the average annual production of defecting advisors is nearly $800,000 per year, showing that high-performing advisors are making the leap—and their clients are following.

So, don’t let fear hold you back. Assets move, and with the right support from a transition consultant like 3xEquity, your career can too. Secure your offers today while remaining completely anonymous, and take the next step toward a brighter future for both you and your clients.

Learn more at 3xequity.com

Welcome to AdvisorTrends, where we help financial advisors navigate the complexities of transitioning to a new platform or broker-dealer. Today, we’re diving into Morgan Stanley’s latest comp structure for 2025—and what it means for smaller advisors.

Morgan Stanley just unveiled their 2025 compensation plan, and it’s a clear nudge—if not a shove—for smaller producers to consider their future. Starting in April, advisors with nine or more years of experience will need to generate $360,000 in annual revenue to avoid a reduced grid rate of 20%. That’s up from the current threshold of $300,000.

For a $300,000 producer managing around $30 million in assets, this new target means finding an additional $6 million in AUM, just to break even. It’s possible, but not easy, especially when Morgan Stanley’s focus is on larger, more profitable practices.

For many smaller advisors, this new reality feels less like a gentle nudge and more like a firm push. Some will try to grow, but others may start to wonder if a better fit is out there—a firm that values their business, offers a smoother path to growth, and maybe even a transition bonus.

It’s the classic "grow or go" dilemma. Will advisors scale up to meet Morgan Stanley’s demands, or is it time to explore new opportunities with broker-dealers that have more flexible expectations? One thing’s for sure—$300,000 just doesn’t cut it anymore.

If you’re curious about your options, you can secure multiple offers while remaining 100% anonymous.

Thanks for tuning in to AdvisorTrends. Be sure to check out our full episode library on Spotify, and stay informed about the best moves for your practice.