Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with

financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading financial

advisors navigated the inevitable challenges that arise on the path to success and get

insight from leading industry consultants about how to break through to the

next level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.

Welcome to the 176th episode of the Financial Advisor's Success podcast. My guest on today's

podcast is Mindy Diamond. Mindy is the founder of Diamond consultants,

a recruiting firm that has been helping advisors evaluate and change their broker-dealer platforms

for more than 20 years now. What's unique about Mindy, though, is her deep understanding of

the full breadth of options that advisors can consider when evaluating the right platform to build

their businesses,

from wirehouses to regional broker dealers, independent broker dealers, and hybrid RAs,

and from employee to independent models. In this episode, we talk in depth about the range of choices

that advisors have today in choosing a brokerage platform, the contrasting benefits and

disadvantages of each platform, depending on the types of clientele the advisor serves, how each

varies in what they will pay in up-front recruiting bonuses versus higher payouts over time,

and the way the independent RAA channel is increasingly replicating the brokerage channel as it shifts

from simply being the most openly independent platform to instead having a range of

employee tuck into fully independent models as well. We also talk about when advisors should and

shouldn't look at switching to another broker-dealer platform. Why, it's not enough to just feel the push that makes you want to leave your current platform,

but most also have a pull that makes you want to go find a new one.

The most common pushes and polls in practice that lead advisors to switch platforms

...