Firm Transitions with Corey Walen

By Corey Walen

Welcome to the Firm Transitions podcast. I'm Corey Walen and my goal is to make broker dealer and RIA due diligence easier for you. I've helped more than 1,000 high-performing financial advisors make ... more

5

99 ratings

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about Firm Transitions with Corey Walen:

How many episodes does Firm Transitions with Corey Walen have?

The podcast currently has 76 episodes available.

Firm Transitions with Corey Walen episodes:

October 30, 2023Deal or Loan: Understanding the Economics of Broker Dealer Offers, with Jeff Nash (026)
Jeff Nash and I get together again for a succinct conversation about how large upfront economic offers from broker dealers can sometimes act more like loans than deals, negatively impacting an advisor's long-term earnings potential. Our conversation sheds light on some examples of how to calculate the true costs of accepting upfront bonuses and emphasizing the importance of thoroughly evaluating all aspects of a firm, including fit and feel, when making a transition decision.
Highlights of our conversation:
0:03:15 - Example of an advisor offered $600k upfront but potentially giving up $2 - 3.7 million over 10 years depending on growth assumptions

0:06:48 - Firms view advisors as 2-3 year breakevens and continue to make money for much longer

0:09:35 - Nothing wrong with upfront capital but you need to understand true costs

0:10:56 - Economics can differentiate finalist firms but shouldn't sacrifice long-term earnings
--
Contact & connect with me:
Text or Call: ⁠⁠⁠⁠⁠(908) 902 4903⁠⁠⁠⁠⁠
Meet: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠⁠⁠⁠⁠⁠
Website: ⁠⁠⁠⁠⁠https://www.coreywalen.com⁠⁠⁠⁠⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
14min
October 16, 2023Navigating the "Arms Race" - Compensation Trends Driving Advisor Moves, with Jeff Nash (025)
Jeff Nash, my business partner and the CEO and Co-Founder of Bridgework Strategies, joined me for a deep dive into the transition economics taking place throughout the industry.
Highlights of our conversation:
This has been one of the biggest recruiting years ever in the industry due to strong economics and an "arms race" of firms upping compensation packages.

There has been significant broker dealer consolidation over the past few years, with only 12 of the top 30 broker dealers from 2017 remaining under the same name.

Firms are able to afford higher compensation by leveraging high interest rates and profitability to invest in growth through recruiting.

Advisors should consider both upfront compensation and ongoing costs like platform/program fees when evaluating firms.

The RIA space has expanded significantly with more options for advisors compared to ongoing consolidation in the broker dealer space.

The "Last Transition" you'll make
--

Contact & connect with me:
Text or Call: ⁠⁠⁠⁠(908) 902 4903⁠⁠⁠⁠
Meet: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠⁠⁠⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠⁠⁠⁠⁠
Website: ⁠⁠⁠⁠https://www.coreywalen.com⁠⁠⁠⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
28min
October 06, 2023 From a Regional B/D to a $2 Billion Independent Practice (024)
I sat down with Chip Munn, CEO of Signature Wealth Group, about his journey from a regional broker dealer to building an independent practice with over $2 billion in AUM.
Chip discusses his journey, the benefits of independence, how he's grown through acquisitions and recruiting, and why he chose to stay with Raymond James rather than go the RIA route.
This episode is full of insights for advisors considering independence.

--

Contact & connect with me:
Text or Call: ⁠⁠⁠(908) 902 4903⁠⁠⁠
Meet: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠⁠⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠⁠⁠⁠
Website: ⁠⁠⁠https://www.coreywalen.com⁠⁠⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
44min
October 02, 2023 Bank Financial Advisors: Your Transition Will Be Different (023)
In this episode I'm trying to help my financial advisor friends within the bank channel that are considering a transition. Please consider these three things before diving into your due diligence.

--

Contact & connect with me:
Call or Text: (908) 902 4903
Meet: ⁠⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠⁠
Website: https://www.coreywalen.com
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
5min
September 28, 2023All Things I Experienced Leaving Edward Jones: Grew the Business, Better for my Clients, Flexibility to Build, More Support (022)
This episode presents Clay Elliott, CFP®, AAMS®, CRPC®, Founder of Oak Capital Financial Advisors, to candidly share his experience transitioning from Edward Jones to independence, joining New Edge Advisors.
Clay spent more than six years at Edward Jones before exploring independence due to concerns over fiduciary standards and ownership of his business

What considerations went into his move and where/why he ultimately landed

Clay shares "the worry" about losing clients and community when transitioning

Today: Clay's gained flexibility, discretion over accounts, and the ability to be more comprehensive in his services which has led to an increase in business and AUM

--

Contact & connect with me:
Text or Call: ⁠⁠(908) 902 4903⁠⁠
Meet: ⁠⁠⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠⁠⁠
Website: ⁠⁠https://www.coreywalen.com⁠⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
36min
September 20, 2023How This $500M Team Left Edward Jones to Build Their Own RIA (021)
This one isn't just for Edward Jones FAs, this is for everyone struggling with the idea of leaving a captive or employee firm.
In my opinion there are more misconceptions surrounding advisors leaving employee firms than any other transition situation out there. In this episode we address many of them.
Jason Barber, CFP®, CEO & Founder, and Taylor Pankratz, President & Founder, of Holistic Planning joined for me an hour to share their experience leaving Edward Jones to build their own RIA.
41 year legacy, history, and the transition of a family business out of Edward Jones

Frustrations with the captive broker/dealer compliance systems and rules

How important was the national brand?

"The FIRST phone call to our clients blew my mind"

--

Contact & connect with me:
Text or Call: ⁠(908) 902 4903⁠
Meet: ⁠⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠⁠
Website: ⁠https://www.coreywalen.com⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
58min
September 07, 2023Is Creating Your Own RIA a Good Idea, the Box Created by Big Firms, are Current M&A and Valuations a Bubble, Never Be Unhappy Again – with Alex Goss, NewEdge Advisors (020)
Wow! Where do we start with this episode?

(Please share this one with your friends and colleagues 🙏)

Alex Goss, Co-Founder of NewEdge Advisors and I caught up and let me tell you we really dug in on the industry. DO NOT MISS this conversation.
They (BIG firms) created these boxes so they could manage the thousands of FAs at the lowest common risk denominator

We're (NewEdge) not trying to be all things to all advisors

To grow 📈 you need to refocus on what led to your original success

The reality is, if you're staying at [FIRM] and you're unhappy, you're still going to be unhappy and have to go through it all over again in a few years

--

Contact & connect with me:
Text: (908) 902 4903
Meet: ⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠
Website: https://www.coreywalen.com
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
59min
August 17, 2023 Take Advantage of All-Time High Incentives: Seven Ways to Maximize Your Offer (019)
You've likely been hearing that firm incentives are at all-time highs—and you're right!

In this short episode I quickly outline seven things you can do to maximize your offer.

--

Contact & connect with me:
Text: (908) 902 4903
Meet: ⁠⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠⁠
YouTube: ⁠⁠https://www.youtube.com/@CoreyWalen⁠⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
6min
August 07, 2023How Long a Transition Takes, Successfully Transitioning Your Clients, Catching Red Flags, Realistic Expectations – with Grier Rubeling (018)
I recently sat down with one of my favorites in the industry, Grier Rubeling, Founder of Advisor Transition Services.
Our conversation is full of helpful insight:
Grier's early career and how she naturally aligned her talents with advisor transitions

How Grier's expertise and services intersect and complement the in-house services of a RIA and/or B/D

Catching Red Flags 🚩

Incentivizing your staff

Setting realistic expectations

"Shrinking to grow"

How long does a transition actually take?

--

Contact & connect with me:
Text: (908) 902 4903
Meet: ⁠⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠⁠
YouTube: ⁠https://www.youtube.com/@CoreyWalen⁠
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
58min
August 01, 2023 There's a Shift Taking Place in the Industry, Helping FAs Achieve Real Scale, the Sell & Stay Model – with David Wood, Gateway Financial Partners (017)
David Wood, Founder and Chief Visionary Officer of Gateway Financial joined the Firm Transitions podcast to take a deep dive on how Gateway is helping financial advisors grow their independent business with real scale.
On this episode:
• Shift in the industry (40% of B/Ds over the past 13 years have disappeared)
• How FAs can maintain independence while adding scale
• Focus on revenue generating activities
• Execute a real growth strategy
• When looking for an OSJ, please pay attention to cultural alignment
• How our Sell & Stay model leads to continuity
--
Contact & connect with me:
Text: (908) 902 4903
Meet: ⁠⁠⁠⁠https://calendly.com/coreywalen⁠⁠⁠⁠
LinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/corey-walen-22a76325/⁠⁠⁠⁠
YouTube: https://www.youtube.com/@CoreyWalen
Thanks for listening!
Corey Walen, Managing Partner, Bridgemark Strategies
...more
34min

FAQs about Firm Transitions with Corey Walen:

How many episodes does Firm Transitions with Corey Walen have?

The podcast currently has 76 episodes available.

More shows like Firm Transitions with Corey Walen

Notes on the Week Ahead by Dr. David Kelly

Notes on the Week Ahead

195 Listeners

Odd Lots by Bloomberg

Odd Lots

1,774 Listeners

Capital Ideas Podcast by Capital Group

Capital Ideas Podcast

275 Listeners

The Diamond Podcast for Financial Advisors by Mindy Diamond Financial Advisor Recruiter and Consultant

The Diamond Podcast for Financial Advisors

100 Listeners

Animal Spirits Podcast by The Compound

Animal Spirits Podcast

1,999 Listeners

The Perfect RIA by Matthew Jarvis, CFP® & Micah Shilanski, CFP®

The Perfect RIA

458 Listeners

The Compound and Friends by The Compound

The Compound and Friends

2,039 Listeners

Advisor Talk with Frank LaRosa by Elite Consulting Partners

Advisor Talk with Frank LaRosa

92 Listeners

Kitces and Carl - Real Talk for Real Financial Advisors by Michael Kitces, MSFS, MTAX, CFP and Carl Richards, CFP

Kitces and Carl - Real Talk for Real Financial Advisors

224 Listeners

All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

All-In with Chamath, Jason, Sacks & Friedberg

8,760 Listeners

Barron's Advisor by Barron's Advisor

Barron's Advisor

105 Listeners

The Memo by Howard Marks by Oaktree Capital Management

The Memo by Howard Marks

407 Listeners

The Efficient Advisor: Tactical Business Advice for Financial Planners by Libby Greiwe

The Efficient Advisor: Tactical Business Advice for Financial Planners

113 Listeners

The Tucker Carlson Show by Tucker Carlson Network

The Tucker Carlson Show

14,356 Listeners

Behind The Breakaway by Uptick Partners

Behind The Breakaway

4 Listeners