Create a realistic transition strategy for advisor growth
Challenge
An RIA made the decision to leave their consolidator RIA and start their own RIA business. They needed help building and executing a transition strategy and plan that would have little to no client impact.
How we helped
- Prepared the team for transition. Aligned individual team member's personal and professional goals, created a realistic resource plan for the transition that built confidence and excitement across the team.
- Built a transition strategy & plan with a clear target date. Developed an execution strategy that prioritized excellence in client experience with a detailed plan for managing client communications, custodian coordination, legal & risk changes, business updates, hiring new resources, expanding offices and more.
- Plan execution. To ensure smooth execution, provided a short- and long-term resource plan, a technology checklist, a communication plan, and a marketing plan to support the transition. Provided continuous check ins, helped answer business & technology questions, and provided additional contacts to help with custodian support through transition.
- Beyond the transition. Post transition, there were opportunities to further grow and develop resources, modernize, and streamline technology, refresh marketing & communications. We created a 1-year, 3-year, 5-year roadmap to share future opportunities for new business growth.