Trends and changes often sneak upon us. We usually don’t see them (or act on them) until it is nearly too late. This is an article to make sure you see a current trans very clearly and don’t let it pass you by.
For the entirety of your career, the idea of engaging in the process of discussing a move to a new firm and walking the pathway of due diligence was a ‘cloak and dagger affair. Taking phone calls off-site, in your car, lunches across town, using clandestine email accounts, etc etc. The stress associated with the process of getting a meaningful offer kept most advisors from pursuing the process.
**CLEARS THROAT** All of that is gone. Gone. Gone. Gone. Due to changes brought on by the Covid pandemic the ease of engaging with firms interested in your services has never been easier. If you want to take a phone call from a rival manager, no problem; take it from your home office and your cell phone. We doubt your significant other is going to report you. Need to take a meeting with department heads important to your book? Again, no problem; jump on a Zoom call from your deck.
The point here is this: the friction associated with the recruiting process has never, ever been lower. In fact, it is approaching frictionless. If there’s anything positive that’s come from Covid associated charges to the industry, this is one of them.
If you are betting on zero and looking to find the best value for your book (with markets and client balances at all-time highs) the ‘climate’ has never been better.
