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Good Afternoon!
Is this the year you’re going to make changes to your business?
Making the switch to a new firm can benefit many financial professionals; however, many don’t address the need to even consider a move until opportunities have already passed.
Fortunately, it’s not too late to assess your circumstances to see if this may be the right move for you.
Several signs indicate that looking for a new firm may be in your future:
Stale results
Practically every financial professional becomes stuck in the “status quo” at some point during their growth journey. When it comes to working with a new firm, though, you can’t afford to settle.
In many cases, an apparent lack of progress (e.g., lower production, lack of product knowledge, etc.) could mean that the financial organization you are aligned with is losing more financial professionals they can replace, or that new financial professionals lack the real-world knowledge and skills to produce consistently high results.
While it’s unfortunate that so many financial professionals are stuck in “survival mode,” your business can’t afford to accept the status quo. Look for a new firm that is not satisfied with baseline results and has a solid track record of helping companies like yours succeed.
Increasing expenses
Working with any new firm involves expenses, of course, but if your costs consistently increase, maybe it’s time to look for a new opportunity.
Like many business owners, you’ve probably been too busy to look at your current expenses to find out if you’re overpaying. Review your fees, including errors and omissions insurance, administrative fees, platform fees, third-party services, and other related fees yearly to make sure significant increases aren’t going unnoticed.
Poor client experience
Client experience has become a top issue in practically every industry, and there’s no exception when it comes to choosing a new firm. In past decades, many of us have put up with low-quality service, poor communication, and other signs of apathy.
Today, though, it’s more important than ever to demand the level of service you expect. High competition among financial services organizations means that if your current services aren’t up to your standards, there are plenty of others ready to exceed your expectations.
Want to know more about aligning with the right financial partners to help your business thrive? Get in touch with the experts at PS&G Financial Partners today by visiting www.psg-fp.com.
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