Disruptions Caused by Coronavirus Create Opportunities for Financial Advisors Considering a Transition

Posted on April 10th, 2020 at 2:53 PM
Disruptions Caused by Coronavirus Create Opportunities for Financial Advisors  Considering a Transition

From the Desk of Jim Eccleston at Eccleston Law LLC:

Financial advisors considering a transition may have put those plans on hold given the unprecedented disruption and market volatility caused by COVID-19.  However, as Ryan Shanks discussed in a recent article for ThinkAdvisor, there may be some benefits for advisors who continue forward on their transition plans.    

One benefit comes from the fact that the supply of financial advisors looking to transition has decreased.  As such, firms that are still looking to recruit advisors may be willing to pay more in upfront bonuses now than they would under normal circumstances.

Additionally, working remotely, as many advisors are doing currently, can have some benefits when it comes to potential transitions.  For instance, working at home can provide advisors the opportunity to reach out to prospective new firms.  Additionally, given the current environment, meeting with prospective firms remotely is as accessible as it’s ever been.

While a transition to a new firm may not be the first thing on many financial advisors’ minds, there are reasons to believe that this could be as good a time as any to look into a transition to a new firm that better meets the needs of you and your clients.  

Financial advisors considering a transition should contact the professionals at Financial Advisor Transitions for a free consultation.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, james eccleston, coronavirus, financial advisor, financial advisor transitions

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