Why We're Enhancing Our Focus on Recruiting Momentum 

This means going beyond announcements about the latest movement and emphasizing the complexity of switching firms, rather than just looking at the size of the deal. We’re talking to advisors who have made this journey — why they made this change, how this move is positioning their practice for future growth and what this transition involves.

While they leave their firms for a variety of reasons, it’s “increasingly common that advisors make a change not just to monetize their book and/or find a better home to serve clients, but also to solve for succession,” according to recruiter Jason Diamond in a recent report. In other words, many advisors who pick one firm over another do so “because of that firm’s ability to solve for a next gen inheritor.”

Other advisors are moving to get access to more wealth management services that their clients and prospects most value. And some are switching firms to gain more control over how they run their business, enjoy greater autonomy with the support of a new broker-dealer, RIA or other partner, or embrace new technology and investment tools.

“If high fees, misaligned values or limited growth create headwinds, it may be time to set sail toward a firm that better aligns with your goals and clients’ needs,” said Maria Kutscher, an advisor transition specialist and founder of Club Level Consulting, in a recent interview. “Staying too long in a firm … can stall your journey and your clients’ success," Kutscher said.

Our reporting team is also looking deeper into the many changes in retirement and wealth planning, investment management and compliance — and what these shifts mean for the recruiting scene. We’re digging into what advisors need to be aware of in the Protocol for Broker Recruiting, for instance, when they switch firms.

This approach aims to bring readers the most holistic view of the rapidly changing recruiting landscape, which is being driven by factors like intense industry consolidation. The number of mergers and acquisitions in wealth management hit a new high in 2024 with 366 transactions, Echelon Partners reported in mid-March.

In addition, we’re also asking industry executives from the leading broker-dealers and RIAs what advisors need to consider as they evaluate their options, as well as talking to top recruiters about the latest options and opportunities for advisors’ practices.

As one executive described, it comes “from the top: How do we make your clients better valued? How do we make your clients the best that we can? … How do we make you the best … that we can?” To keep up with the many changes in advisor recruiting and movement, we’re regularly updating our content strategy and focus to reflect reader interest and input, as well as audience engagement.

After a big deal takes place, for instance, we look critically into what might discourage acquired and existing advisors from staying and how the new firm might best retain all of them.

From finding the right cultural fit to selecting the right business model, advisors considering a switch in firms face “a life-changing decision,” according to consultant Shelby Nicholl. “Your practice isn’t just your livelihood — it’s likely your most valuable asset. … [You] owe it to yourself and your clients to stay proactive.”

Our expanded approach to recruiting news aims to highlight the best ways that advisors can meet their clients’ needs while ensuring that their own business goals are met, too.

We’ll do this by highlighting what advisors most need to know when switching firms and by sharing insights from industry leaders about what really matters in the highly competitive world of recruiting.

Overall, momentum alone “is not a sufficient recruiting strategy,” said Diamond. “All firms need to provide more value to earn advisors’ business, especially in an ever-crowded industry landscape replete with quality choices for advisors.”