5 Stages Advisors Experience When Considering a Move
It’s a journey….to say the least.
When financial advisors consider leaving their firms, they often find themselves navigating a complex journey of emotions, decisions and practicalities. As we work with advisors every day on “if” they should and “when” they should make a move, we’ve noticed a pattern—five distinct stages many go through before making the leap. BTW - this isn’t the process for deciding where to move - that requires substantive due diligence, which is a different blog post.
This is the common journey of deciding “if” you should move. Where are you on this journey?
What we often hear from Advisors:
Spark of Interest
You’re curious. Maybe a colleague’s success story piqued your interest, or you’ve started noticing gaps in your firm’s support. At this stage, you’re not yet ready to make a move but are open to exploring what’s out there.
Growing Frustration
This is where discontent starts to bubble up. Tools, policies, or cultural mismatches become more apparent. The status quo begins to feel harder to justify.
Light Inquiry
You’ve started researching, listening to podcasts, or engaging with industry experts. This is the perfect time to connect with an independent consultant who can help you assess your options without the pressure to decide immediately.
Planning to Move
You’ve mentally committed but haven’t yet pulled the trigger. Many advisors linger here too long, weighing pros and cons and waiting for the “perfect time.” Often, they tell me their only regret is not moving sooner.
Ready for Change
You’ve reached your tipping point. The walls of frustration have closed in, and you’re ready to take action. This stage is exciting, empowering, and a bit nerve-wracking. With the right guidance, you can transition smoothly and confidently.
Each person or firm moves through the transition journey at their own pace. Some speed through from “spark of interest” to “ready to change” in just days or weeks, while others may linger in the “planning” stage for years. And that’s okay. Your journey is YOUR journey, and it’s crucial that you feel 100% confident before taking the leap to a new firm.
Note from Shelby:
I firmly believe that deep down—in your heart of hearts—you know when it’s time to make a change. You may not act on that knowledge immediately, but you know.
From my experience, two main challenges often hold advisors back:
1️⃣ Fear of Being Disloyal: Loyalty is an admirable quality, but it shouldn’t come at the expense of your career, clients, or personal fulfillment. You can honor the relationships you’ve built while prioritizing your growth and well-being.
2️⃣ Lack of Knowledge: This is a practical hurdle, and it’s one we can solve together. At Muriel Consulting, we specialize in providing the guidance, industry insights, and support you need to explore your options and move forward with clarity.
We’re here when you’re ready. Whether it’s tomorrow or years from now, you don’t have to navigate this journey alone.
