It’s fascinating how advisors assume lots of the processes round due diligence and transition are the identical.
And, in fact, there are particular steps that just about are what they’re.
But there may be one element that’s really distinctive in each case: The advisor.
After all, every advisor interacts with their agency, staff and shoppers in their very own distinct means—they usually have private values which might be a basic element of their objectives and imaginative and prescient. So, it will make sense that the exploration course of, and even the transition itself, can be unique to the advisor.
But, after 27 years within the recruiting world and actually tons of of hundreds of conversations with monetary advisors in any respect ranges, we’ve acknowledged that there are particular molds every advisor can establish with in terms of conducting due diligence. And since every archetype comes with its personal distinctive dangers and advantages, it’s useful for advisors to know which class they match into to allow them to keep away from some frequent missteps and finest place themselves for fulfillment all through the diligence course of.
Listed here are the 5 sorts of advisors we generally encounter throughout a due diligence and transition course of: Â
