Know What You’re Getting Into
Rocket fuel doesn’t work if you put it in a car. If you’re looking for an equity partner to be the catalyst for growth, it’s important to make sure that your infrastructure can support that growth. Do you have a plan for when you do reach your goal? Will you be able to maintain the same level of client service when you double the size of your firm? These are critical questions to ask, and it helps to have these answers ready before you begin the search for a potential partner.
Find Goal Alignment
We talk a lot about cultural and people alignment in the advisor recruitment process. But when it comes to finding an equity partner, it’s just as important to find alignment in your future goals. If you’re taking a bet on a quickly-growing firm, you need to understand what sustainability and scalability means to them. This will help ensure that you’re running towards the same finish line.
This industry is prime for disruption and continued growth. Know that this growth isn’t black and white—if growth is truly a priority for any firm, there are solutions that can fit any goal or circumstance. Remember: as long as the client is at the center of every decision you make, you’re on the right path.
Ryan Shanks is founder and CEO of FA Match, a digital recruitment platform that connects experienced advisors with financial services firms equipped to help them thrive. Ryan brings over 20 years of experience as a recruiter and “sports agent” to financial advisors.