Rogge Dunn, a seasoned attorney for financial advisors, was recently interviewed about his keynote speech at the AdvisorHub Summit. Weighing in on the challenges and avenues that should be taken during this process, Rogge points out just how important it is to make sure that when financial advisors transition to a new firm, it should always be done in the right way.
Transition the Right Way
When you and your team decide to transition from Oldco to Newco, do it in the correct way. This helps avoid any unnecessary conflicts and ensures that the transition will be beneficial to your clients. When asked what the first course of action should be, Rogge pointed out that you should first bring the “end game” into consideration. What is your team’s goal for your clients and how will this transition benefit them? Rogge emphasized that “many folks focus just on the money right away, instead of looking if the new firm is a good fit for their clients.” The transition from the Oldco to Newco should in no way be rushed. “If you know what your end game is, think about that, and then take the time to plan,” says Rogge. “Don’t rush!”
Taking time to carefully consider your team’s plan of action and gather any necessary documents. In addition, gaining advice from experts in the field will enable you to ensure that the transition goes smoothly. Ensuring that you have access to sound legal counsel is vital. Make sure that you select a lawyer well versed in FINRA arbitration.
Rogge Dunn has ample experience helping financial advisors transition to a new firm. Every year, Dunn aids approximately 10 teams during their transition to new firms. He helps protect relationships, reputations, and handles any disputes that may arise.
Watch Rogge Dunn’s interview with Asset TV during the AdvisorHub Summit event to hear his full insight into how to make the transition smooth and why it matters.