Evan Lazarus

“I want to leave my broker dealer but don’t know where to start with searching for a new firm.” Before you ever talk with other firms, it’s critically important to get a macro level of the Broker Dealer and RIA landscape. The biggest mistake you can make is joining a new firm without an assessment of what makes Broker Dealers and RIAs so different, the stance they take on whether they allow advisors bring clients with them to a new firm if they ever decide to make a change, and how much support you receive during the transition process because the amount of legal, financial, and operational resources provided across firms VARIES SIGNIFICANTLY. Understandably, running your practice is already a full time job so finding the time to learn up on these topics can be challenging. Thankfully, Vantage Impact has done thousands of hours of due diligence on hundreds of different firms and created helpful materials to rapidly learn everything you need to know about overcoming risks and retaining your clients during a transition to a new firm. For any financial advisors contemplating a move within the next year, here’s a great article to get schooled up on the important topic of Broker Protocol https://lnkd.in/gtzd_bVD If you find this helpful, we have a vast amount of information to bring you up to speed on everything related to finding the next firm that aligns with how you want to run your practice. 

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This is one of the biggest changes I've ever made to how I help financial advisors get more clients. But first, a little backstory... 👇🏻 I've been helping financial advisors get more clients since 2015. I started a little company called The Advisor Coach and began coaching financial advisors one-on-one. My coaching sessions used to be done over the phone. One coaching package might have included weekly phone calls that lasted an hour each. During these coaching sessions, I realized a few things… 1. Much of my knowledge could be packaged/systematized. With coaching, I was limited to one-on-one conversations with financial advisors. So, I started writing my Inner Circle newsletter, which allowed me to pass on my coaching knowledge to many advisors at once. 2. Many successful financial advisors were lonely. It’s a sad truth that many successful entrepreneurs face… they have few friends. But it’s not their fault. Because the world is built for average thinkers—people who will blindly accept whatever the trendy new thing is without question, go to work 9-5, and take their marching orders from whoever is willing to give them. Successful financial advisors are pretty much the opposite of that. And it’s my hope that my office hours will give them a way to meet other financial advisors. You see, I don’t want to position myself as the guy with all the answers because I don’t have them. Therefore, one of the things I want to accomplish with these monthly office hours is having advisors network with each other. If someone wants to learn more about social media marketing, referral marketing, content marketing, etc., then that person can ask the advisors in attendance what they have been doing to get results. 3. Coaching would’ve been so much easier with a web conferencing tool like Zoom. Why? Because the experience is so much better when you can see someone face-to-face. You can pick up on the person’s facial cues and get all of the subtleties involved in human communication. Most of my coaching was done over the phone because that was what was most comfortable for the advisors I served. Today, that has changed. Many of the advisors I’ve talked with have told me they’d prefer Zoom because of the face-to-face (and networking) component. So, that’s what I’m doing. The first office hours exclusively for my Inner Circle members is this Tuesday, August 13th, from 11:00 a.m. to 1:00 p.m. EST. I’ll sit at my desk with my camera on and microphone ready, fully dedicated to my Inner Circle members’ success. These office hours won’t be formal. There won’t be any presentations or lectures. They will consist of me and whoever shows up hanging out and talking shop. I’m so excited to offer help directly to advisors who want it. And if you’re interested in becoming an Inner Circle member to receive this special benefit, here is where to subscribe: https://lnkd.in/d2ti2M8

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Across $2.5MM of ad spend we generated 15,700 appointments; AUM, Whole Life, LTC, Annuity, IUL, and some misc financial services. Some clients closed $500K/mo in new assets, others averaged $3.5MM/mo in new assets, others averaged 8 cases per month. This is what it looks like when good digital marketing meets advisors that actually provide value, are VERY VERY good at building relationships/trust, have a good process, and know how to close! #financialadvisor #finanicialadvisormarketing #marketing #digitalmarketing #AUM #annuities

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📣 In case you missed it, my new video "Discover Why Top Entrepreneurs Prefer Private Credit for Business Financing" is out now! Explore the unique advantages private credit offers and learn strategies for optimal financial management. Watch it now on my YouTube channel, @GrowByJoe 📺

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Most wealth advisors max out around 150 clients due to Dunbar's number. Here’s how to scale beyond that: 1️⃣ Hire a junior advisor. Involve them in client meetings and your firm’s content marketing. Clients will see them as part of the team, not just a handoff. 2️⃣ Maintain visibility with Video. Keep contributing to your firm’s content through videos and articles to reinforce your presence and showcase a collaborative approach. This approach ensures clients feel a strong team is working for their financial goals, not losing a personal connection.

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The amount of misinformation out there about client retention during a transition is unreal.. This advisor before he transitioned two months ago was terrified about making the move. His firm leadership told him for the last three years that only 25% of his clients would transition in a move. That he needed the brand. That he needed the structure. This advisor was at an employee firm for a little less that three years and look at this success! Stop listening to the leadership inside your firm that has a vested interest in keeping you in your seat. If a three year advisor can have a transition like this, you can too. Leverage an expert to educate you and coach you! #bridgemarkstrategies #FAtransition

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More Than Money: Understanding Client Motivations - Rose Price, CFP®, AIF®, Partner, VLP Financial Advisors - Clip from the "Ultra High Net Worth Clients" Podcast - Watch the full episode wherever you enjoy podcasts (iTunes, Spotify, YouTube, etc)! . . . #RosePrice #Partner #VLPFinancialAdvisors #Podcast #UHNWC #UltraHighNetWorthClients #ChrisBrodhead #FinancialAdvisors #FinancialAdvisor #FinancialAdvising #UHNWI

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Like any dynamic industry, the wealth management landscape is evolving. Generation X and millennials are set to inherit $84 trillion—a monumental shift that brings both opportunities and challenges for financial advisors. A recent survey found that 72% of millennials are willing to pay more for financial advice when it includes enhanced services and superior client experiences. This highlights a critical shift in client priorities. Advisors can’t rely solely on traditional relationship-building. They must embrace enhancing their digital agility along with expanding service offerings like behavioral coaching, family governance, and customized investments—to meet the expectations of the next generation of investors. Those who don’t risk losing clients to competitors who will. At Sanctuary Wealth, we invest in human capital, products, and technology that empower our Partner Firms to deliver meaningful service enhancements and build long-term business equity. I invite you to read my latest article in AdvisorHub, which explores how the democratization of the family office is transforming the advice industry—and why adapting now is essential. https://lnkd.in/epb7u8UH #SanctuaryDifference #PowerOfPartnership #PartneredIndependence #FinancialServices #WealthManagement #FamilyOffice

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Interesting read. Three tidbits that caught my eye. 1. Over last 55 months - 219 less BDs in the industry - not surprising & candidly - not that significant. 2. Number of reps increased in 2023 (7,519 reps) up 1.2%. Compare and contrast that to the rep numbers in the Career BD & wirehouse/BD space. 3. Dual registration continues to be a positive trend. IMO, a great IBD - with a hybrid option is the best of ALL worlds.

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Learn the language of life insurance.

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Why are financial advisors getting record-breaking valuations when selling their practice? There are three major trends: The Aging of the Industry • With the average advisor now 61 years old and many planning to retire, a massive number of practices are coming to market. • Over the next three years, we’ll see a huge groundswell of sales as advisors look to take their chips off the table. Industry Consolidation • Larger firms are buying up smaller ones, similar to what happened with Home Depot and independent hardware stores. • This is happening fast, with only a few firms likely to dominate the market soon. • These big firms are offering small businesses partnerships, marketing support, and operational leverage they couldn’t access before. High Valuations in Uncertain Times • Despite the political and economic uncertainty, valuations for financial advisory firms are at an all-time high — 4-8x revenue and 10-13 xEBITDA. • Advisors are selling for multiples unheard of in the past, driven by strong demand and the current tax environment. At JPTD Partners, we help advisors navigate this once-in-a-lifetime opportunity by doing three things: 1. Coaching We’ve trained thousands of advisors, and we guide our clients every step of the way to maximize their valuation. It comes natural for us to lead our clients through the process. 2. Matchmaking We match advisors with top acquirers in our network, ensuring they receive multiple offers, which drives up valuations and secures the best deal. 3. Negotiation We pre-negotiate deals and stay involved throughout, ensuring our clients get higher valuations than if they went through the process alone. If you’re ready to sell part or all of your practice, now is the time to act before these trends shift. Reach out and we’ll help you get the best deal in the market.

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What would happen to you, your practice and your clients if the S&P were cut in half as it was in the dot-com bust and financial crisis of 2007-2009? Eben Burr dives deeper in his latest Financial Planning byline: https://lnkd.in/e65fUhBD 6833948 MK

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Learn how #insurance #deductibles work, and how they can help you save money.

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Unlocking Wealth: How Advisors Can Help High Net Worth Families Many advisors feel daunted by affluent families, believing they have it all together. In reality, while they excel at wealth creation, they often struggle with organization and planning. This video explores how advisors can add significant value to their financial journey. #WealthManagement #FinancialAdvisors #HighNetWorth #ClientValue #FinancialPlanning #WealthCreation #AdvisorTips #AffluentFamilies #FinancialSuccess #WealthOrganization

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Attention Financial Advisory Firm Owners - RIA, BD and more. ♨️ You have a unique opportunity to help your financial advisors drive more growth. Watch this video on things you can do very easily to unlock growth.

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Attention Financial Advisory Firm Owners - RIA, BD and more. ♨️ You have a unique opportunity to help your financial advisors drive more growth. Watch this video on things you can do very easily to unlock growth.

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