Mistakes Wealth Management Advisors Make When Moving

1. Mistakes Wealth Management Advisors Make When Moving

2. Moving is stressful, but what is more stressful is when the move impacts areas that it should not. This can include a relocation of your home or office, whether it is across town, across the world, or simply to a new company.

3. This is why, when wealth managers meet with a finance industry recruiter, they will advise you how to make sure the move is as seamless as possible, meaning that clients • understand what is happening ahead of time • - are kept abreast with a quick note during the process • do not get any negative surprises in the process.

4. This applies to the financial advisor who moves from one company to another, as well as to a wealth manager who decides to convert his focus to his own business.

5. Mistake #1:Announcing a Move Before it is Final

6. One advisor was all set to move from his current firm - a large bank - into a leadership role at a private equity firm.

7. He succeeded in all of the interviews, made a great impression, and had just accepted his employment package. Emotionally, he had already left his old company.

8. When December came he gave appropriate notice to his supervisor and then began to speak freely about the move to clients. It was that week that that firm fell under investigation for securities fraud and later closed down.

9. It made him look very foolish, and clients couldn't help but question his judgment.

10. Mistake #2:Not Announcing the Move When it is Final

11. Another person was able to make a very successful move. However, he had failed to communicate the change to his clients. When they received statements the only thing they could conclude was that something was wrong. After all, they always banked with ABC, not XYZ.

12. Mistake #3:Losing Sight of Customer Service

13. Moving takes a lot of time and energy, so it is understandable that one may find him or herself in a whirlwind -

14. - but for clients who feel as though they have lost access to you, they may wonder why they are with you, especially if they get bogged down in the day-to-day fluctuations of the market.

15. A simple way to resolve this before it occurs is to make sure that clients receive your new contact information. This should be done by email and through the regular mail.

16. For those who have 100 clients or less, it would be a great idea to reach out by phone to each of them over the course of a week. The calls will take just a minute or two for the most part, but it's also an incredible opportunity to get to know your clientsbetterand solidify your relationship.

17. Wealth managers can do just about anything once they have earned their stripes. However, the skills involved with managing wealth also include managing relationships, which is what everything is built upon.

18. Ready to Make a Move? If you are planning to buy an existing book of business or sell yours, we can help. Our finance industry recruiters are always ready to accommodate questions and applications.

19. Visit our site: www.willis-consulting.com

20. Willis Consulting, Inc. Los Angeles Office: Corporate Headquarters 719 Yarmouth Road, Suite 203 Palos Verdes Estates, CA 90274 310-373-7400 PST Scottsdale Office 8970 E Raintree Drive Suite #300 Scottsdale AZ 85260 New York Office 244 5th Avenue, Suite 1855 New York NY 10001 212-726-2041 PST