Financial Advisor Placement Services was founded in 2009 by Shawn Smith to meet the needs of the financial advisor who is considering a move to an Independent Broker Dealer. We work as the broker’s “agent” to help the advisor find the firm to meet their professional requirements in order to best serve their clients. Financial Advisor Placement Services will sift through the many National, Regional and Independent broker dealers, and RIA firms, and help the advisor to answer the questions which accompany a firm change. We have developed many relationships with the decision makers at the firms we represent .
We will help you select the best Broker-Dealer for your practice by identifying: the appropriate size, culture, product set, clearing platform, technology and back office support for your practice. We will then negotiate the best deal possible for you, as we have leverage with the firms that we represent.
Our sole focus is on placing finanical advisors with a new Broker-Dealer or with RIA firms. We do not get involved with recruiting people to other industries or positions, like many of our competitors. We feel that the function of providing financial advice is very important, so we pride ourselves in exclusively serving this market segment. We will give you the personal and professional attention that you need in a confidential manner.
We have also sell broker dealers, and financial practices. Advisors wishing to either retire or leave the business contact us to help them sell their practice. We have a vast broker dealer network to sell into, and we use our close contacts to bring buyers “to the table”.
Selling Broker Dealers and Books of Business
Since we have been in business, we have been getting calls from advisors who want to either buy or sell a book of business. With the aging of today’s financial advisor, the average age of the advisor is 58 years old. In this aging population, it only makes sense that some advisors will want to retire. Seeing this demand, we have accomodated these requests and have begun to help advisors sell their books and we have also helped smaller broker dealers sell their firms.
With a vast network of qualified buyers, we are able to “create a market” for the financial advisor and company owner to market their assets. Unlike other competitor firms, that simply send “blast emails” out to a wide area of financial advisors to get buyers, we use our personal relationships to provide qualfied buyers in a confidential manner with broker dealers who will financially stand behind the buyer. We always have the buyer and seller sign a non-disclosure agreement so that everything is kept confidential. We find that this is the best way to do business.