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Making the Move from Broker Dealer to RIA

A leap from commission-based to fee-only compensation doesn’t come with a safety net. Even if financial advisors see a better way to serve clients, the risk of taking a salary cut is often enough to keep them where they are. But a lot of the uncertainty can be resolved, and more upside can be achieved, when advisors plug into the right systems and commit to a specialized career path.

As investment management becomes more of a commodity and the advisor’s value proposition shifts away from products, a differentiated approach—one that demonstrates real planning and meaningful advice—will ultimately separate the contenders from the pretenders. But walking away from a commission-supported salary into a fee-only model isn’t an easy decision.

In this episode of Elementality, Reese Harper welcomes Matt Mulcock, CFP® who talks about his transition from Fidelity Investments to Dentist Advisors. Matt recalls the unknowns he was facing, the trade-offs he had to consider, and the learning curve he had to go through. He also shares the key to handling an unexpected wave of client volume so quickly.

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