“If you want something new, you have to stop doing something old.” - Peter Drucker
Five Steps for a Successful Transition
Creating your future practice and transitioning the clients who choose your new business is a tremendous undertaking, especially for advisors breaking away and starting an independent practice. We understand the complexities and don’t just drop you at the door of the new firm.
We serve as a thought partner, coach and negotiator during the stand up of your new business.
1. Define Your Future
Review your pain points at current firm
Future-casting of “dream” practice
Identify the “must haves” and priorities
2. Evaluate Options
Short-list the firms to consider
Conduct due diligence and evaluate against priorities (this is a significant undertaking!)
Analyze the initial financial offers
3. Decide
Choose the business model
Choose the firm or RIA backbone
Negotiate the offer letter
Sign the letter of intent
4. Prepare for Move
Align resources
Establish your new business
Plan for your team’s transition
Prepare new marketing
Prepare for client transition
5. Execute the Transition
Resign at former firm, transfer licenses
Announce your new practice
Execute your contact strategy
Transfer accounts
Why Advisors Choose Us
Independent Advice
We work for you only - not the various broker-dealers, RIA platforms, OSJs or transition suppliers. We help you sort sales lingo from fact. We also short-cut the process of finding your perfect fit firm.
Prevent Mistakes
We quarterback the process from evaluation to launch, ensuring your future business is set up to thrive. We have been there, done that and learned along the way. We know what resources you need for a successful launch. You’re not the first advisor or firm to make a change, and we provide the industry insight you need during a critical time in your career.
No Downside
Firms with expert guidance receive higher deal payouts because better data = better decisions. Plus, our fees are paid by the firm you choose, so there’s no downside to receiving our expert guidance. Firms want your business and consider recruiting a cost of their business development.
Edward Jones advisors face specific challenges when leaving the firm.
No one knows Edward Jones better than the Muriel Consulting team.
Meet Our Founder:
Shelby Nicholl
Shelby Nicholl brings 25 years of corporate experience, with a career deeply rooted in wealth management. She’s held key roles at industry giants like A.G. Edwards, Edward Jones (nearly a decade!), and LPL Financial, the largest independent broker-dealer in the U.S. Rising to Director at Edward Jones and Senior Vice President at LPL, Shelby reached the top of her field but felt a pull to do more - specifically, to help financial advisors lead their businesses into the future.
That passion led her to establish Muriel Consulting, named after Muriel Siebert, the first woman member of the NYSE and a true industry trailblazer.
Outside of work, Shelby wears many hats: wife, mom, daughter, granddaughter, sister, and friend. A native of a rural Missouri town of just 900 people, she earned her undergraduate degree at age 20 from the University of Missouri-Columbia and completed her MBA at Washington University in St. Louis.
Shelby gives back as a member of the Advisory Board for Easterseals Midwest and the Easterseals Women’s Giving Collective. She also co-founded the St. Louis-based Women Leaders in Finance and leads Muriel Network, a digital community for women in wealth management - her ultimate passion project.
“When you work with us, you get more than just a ‘recruiter.’ You get a business coach, negotiation expert, and thought partner that guides you through one of the most important moves of your career.”