Your clients and their needs, values, and goals are changing in unparalleled ways, looking much different than they did even just a few years ago. To keep up, you need to follow suit and evolve alongside your clients to better serve the current shift in their needs and be best prepared for future growth opportunities.

Today’s clients are coming back around to wanting a more comprehensive approach to their wealth management and financial planning needs. It could be the volatile markets or a shift in thinking that’s inherent to the new demographic of today’s investor, or both, but the fact is that investors want more, and you need to be able to fulfill these demands to retain and grow your client base.

Hello and welcome to another episode of Advisortrends, 3xEquity’s podcast on practice management and advisor transitions. A complete library of episodes is available on our website or your favorite streaming platform, including Spotify and Google Podcasts.

Nowadays, most people want their financial advisor to go beyond just giving recommendations on investments, they want someone who understands their life, values, and needs and guides them along the way to achieving their goals. From comprehensive financial planning to ongoing guidance on major purchases to college savings and long-term care, the list goes on. The question is, “Can you deliver these services effectively at the current home for your book of business?”

If you can’t definitively answer that question with a “Yes!”, it’s time to start thinking about finding a new place to call home that allows you a better opportunity to grow and be successful. After all, to provide your clients with the best, you need a partner by your side that you can trust and rely on; one that continues to adapt to the evolving needs of your clients.

As industry-leading Transition Specialists, 3xEquity has good news to share — there are many top-tier, progressive broker-dealers just waiting to empower you to fulfill the evolving needs of your clients and help you find success. Here are 3 critical areas that advisors should be looking for that will allow them to evolve and fulfill their client's needs when deciding on their next broker-dealer.

Options + Flexibility

These days, people have multiple options for just about everything. Looking to order out? GrubHub, DoorDash, and Uber Eats will all deliver from local restaurants. Want to find something to watch tonight? Hulu, Netflix, and HBO Max have you covered. People have come to expect the flexibility to choose what they want and it’s no different with their investments. Having the options and flexibility to provide your clients with the services they’re looking for will go a long way in building long-lasting relationships.

Ongoing Education + Current Investment Vehicles

One of the best ways a broker-dealer can set their advisors up for success is by offering ongoing education and training and by allowing their advisors to participate in a variety of popular investment asset classes. By having access to professional development opportunities, advisors can continue to expand their skill sets and find new ways to serve their clients. By understanding and being able to incorporate a wide array of investment opportunities into your clients’ portfolios, you can stand out among your competition and build greater levels of confidence and trust among your clients.

Operational Efficiencies

Advisors often find their time getting spent on tedious tasks, that while important, take away from focusing their attention on their clients. A broker-dealer that invests in providing their advisors with the best and most up-to-date practice management and back-office support can play a huge role in an advisor not only better serving their clients, but also maximizing their efficiency and gaining the time to grow their business. From client onboarding to ongoing client communications, a streamlined workflow helps open new revenue