AdvisorOne on June 8 pioneered the premiere of a new app to assist advisors considering a career change: the Business Evaluator. Designed by ActiFi and customized for AdvisorOne's readership, the Business Evaluator helps advisors to take a better look at their practices and business metrics so they can make hard decisions on how to progress and grow their businesses.
According to Jamie Green, editorial director at Investment Advisor Group, “For multiple reasons, many advisors these days are rethinking their relationships with their partners, be they wirehouse brokers or independent BD reps or RIAs. To ensure they pick the right business model, advisors need to apply the same tough due diligence on their own practices as they do in evaluating potential investments.”
He added, “The Business Evaluator tool from ActiFi, now on AdvisorOne, is a tested way for advisors to better understand their business metrics so they can make the right decision on which model fits them best. We’re happy that Spenser Segal and his team at ActiFi agreed to make the industry-leading Business Evaluator tool available to our readers.”
The app has been up on the AdvisorOne site for a little over a week, and it offers a way for advisors to evaluate options that they haven’t tried before. Advisors considering whether to go independent or join a company as an employee will likely find the tool useful in presenting advantages and disadvantages that they may not have considered.