For one, mergers and acquisitions provide the opportunity to finally reap the rewards of owning a business–in liquid form. Many advisors have a material amount of their networth trapped in their firms which puts them at high risk for substantial loss. Advisors who take their own advice and diversify their own portfolio, will benefit from being in a position to profit without the added stress of facing obstacles alone.
When you remove risk, you gain stability. Stability for both your employees and clients. Much like Maslow’s hierarchy of needs, a business can only fulfill its potential once everyone feels secure. When there is a culture of trust and connectedness, goals become reachable because clients and advisors feel safe leaping, knowing they will be caught if they fall. Long-term stability also invites the confidence to set long-term goals because future success becomes more of a guarantee rather than a hope.
With the help of a larger company, ambition becomes the only limiting factor to growing your clientele and improving client relationships. Access to the newest technology and individuals experienced in fintech means more time for doing what you do best–helping your clients! In an increasingly competitive industry, marketing that sets you apart becomes a necessity for success. The support of specialists will transform the quality of services clients receive and encourage a focus on perfecting the details so processes are seamless.
If an RIA is already trending upward then why try to fix something that is not broken? Because the promise of increased resources removes the possibility of ever reaching capacity. In other words, growth becomes limitless! It has been estimated that firms trying to function at capacity lose 5 to 6% of their assets annually.
Are you ready to join the RIAs looking to be more and do more for their clients? Contact Freestone.