For advisors, making the decision to start their own firm is almost never one that comes lightly. Running a business requires an extreme amount of risk, time, money, and energy.

So, it’s no surprise that when firm owners find themselves at critical mass, or stuck in a growth rut, or just no longer happy running their business, the decision of what comes next can be even more difficult than the initial one to start the business in the first place.

Although each circumstance is unique, there are recurring questions I get from advisor-owners who are debating their next move. Here are some of those questions, and things to consider for advisors facing the same concerns.

1. But, my brand! My clients and peers already recognize me as the owner of my firm.
This is an extremely common one. And for good reason – as an advisor-owner, you likely spent years carefully considering the pros and cons of starting your own firm, took on all of the risk, and have been laser-focused on establishing brand recognition. Letting that go can be a hard pill to swallow.

If you have this same thought, here’s what I challenge you to ask yourself: Am I scared to let go of my brand for my clients’ best interests, or mine?

Chances are, you could be putting too much stock in something that won’t affect your clients at all, all for the sake of keeping your brand name on the door. Coming to this understanding will require you to ask yourself why you’re in this business in the first place – and if the answer is to help clients, then brand recognition shouldn’t matter.

2. I’ve already done the work of choosing an advisor to be my succession or continuity partner.
Continuity planning takes a lot of careful consideration, and finding a potential successor for your business can take years. But even with the best laid plans, advisors can find themselves in tough situations if they do not have the resources to maintain and execute those plans.

Remember: as a firm owner, your partners will never hold as much risk in your business as you do. They will not be a fix-all to your problems surrounding technology support, marketing resources, compliance, or investment support.

Consider that tethering your business to a larger firm could be your continuity plan. And by doing so, the partners you have already chosen could be part of a healthier business and lasting legacy.

3. I don’t think I could give up having full control over my business.
If moderate to no growth is acceptable to you, and you’d rather maintain the size and scope of your current firm if it means staying in full control– then stay! But if you’re looking to grow and evolve your firm, the truth is you need to free up some of your time to focus on that growth (which means letting go of control).

Rolling into the right, culturally-aligned existing firm could be a smart decision for advisor-owners who would benefit from organic/inorganic growth and back office support, while maintaining control over their team and client experience. Removing some of the burden of running your business could even make you feel more in control of your time, and ultimately, help you make better decisions for your firm.

4. I’m doing business in such a unique way, I could never find another firm who would understand my vision/niche.
If you’ve already spent years gaining momentum, experience, and recognition for your client niche or the way you do business, the thought of tethering your business to another larger firm can feel impossible.

The truth is, there may not be another firm that does things just like you do, or has the same niche client experience – but there are certainly firms that are aligned, both from a cultural and business perspective, that would enable you to continue operating as-is while helping to drive continuity and growth for your business in the long term.

Since this issue comes up so often with clients, I always recommend taking an “alignment assessment” to help articulate – Ego aside – what it is they really want to accomplish for their clients. Once that is determined, it can be a lot easier to recognize that there are other firms with similar values and client service philosophies. 

If you are a firm owner, the truth is that you will likely have moments where you’re asking yourself these same questions. My advice is this: remember what you love most about the business, and use that as your guide.

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.