For advisors wondering how they can make this a priority in their search, here are some suggestions to keep in mind:
No. 1 - Know your priorities: Running from a firm that otherwise is a good cultural fit and offers you stability, only for the sake of crypto and ESG opportunities, may not be the most risk-averse decision for most advisors. It’s important to decide, what are the top priorities for my clients and I at this time? Is there an interim solution I can work out with my current firm before I look elsewhere?
No. 2 - Do your due diligence: Avoid the risk of joining a firm that says, “We have a crypto solution,” only to find out once you’re there that they really do not. Ask them:
- What platforms do you use?
- What education vehicles do you have for your clients?
- What are the compliance limitations?
- Where do you see your crypto/ESG offerings evolving in the next year, 5 years, and 10 years?
No. 3 - Keep your clients at the forefront: As with everything you do, it’s important to keep your clients’ needs at the center of your decision. If you’re not hearing significant needs and interest regarding crypto or ESG, consider beginning just with due diligence for now so you can meet your clients where they are at when the time is right.
Time will tell, however all indications point to advisor education being a major value add and firm differentiator for 2022.
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 advisor