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5 Signs It's Time to Leave Your Wealth Management Firm

Ending any relationship is hard, and it can be difficult to gauge whether you’ve given it enough time to make the most informed decision about making a change. As a financial advisor, leaving one company for another impacts not only you but also your clients, so before you make the leap, consider these five circumstances. They can help you determine whether it’s time for you to depart your current firm.  

1.      A Shortage of Training or Advancement Opportunities

A firm that aims to help its Wealth Management Advisors grow and prosper offers regular training and resources throughout their career. If your current firm doesn’t offer training sessions or the encouragement to pursue new skills, its leadership is not as invested in your success as you are and it might be time to think about leaving. If you wish to grow in your job and be the best advisor that you can be, then you need to have the support of your company to help you get there. 

2.      Lack of Support to Achieve Long-term Goals

While there aren’t many lifelong, “gold watch” careers these days, we still go into new jobs with the hope of a long-term, sustainable — and successful — career. A Wealth Management Advisor can thrive for decades if their firm stands in support of their long-term goals. What are yours? And is your current firm investing in them along with you? If the answer is no, you should explore making a change.

3.      Poor Work-Life Balance

One of the many benefits of being a Wealth Management Advisor is the flexibility it provides. Having the latitude to run your business on your schedule is a major plus to this career, especially if you are raising a family. So ask yourself: Do you currently have the freedom to manage your business on your terms and on your timeframe? Because while you’re undoubtedly willing to work hard and do what it takes to build a thriving business, it shouldn’t come at the expense of your happiness and health.

4.      Impossible Expectations

If your current firm expects you to hit pie-in-the-sky numbers and reach unattainable rates of growth, then you are not in a sustainable situation. Having high-level goals and stretch standards of achievement are perfectly OK — and you very likely welcome these challenges — but they have to be reasonable and reachable, not a stressful weight on your shoulders.

5.      Poor Communication or Lack of Trust

If your boss or firm isn’t clear with their expectations of you and your performance, or they don’t live up to their end of the bargain of what they offered when you came onboard, then it’s unlikely you’ll be able to trust them. All relationships — friends, family and, yes, work — are built on trust, and although there may be miscommunications and missteps along the way, if you don’t trust your employers, then you’re not in a good place and it’s time to start looking to move on.

Are You Ready to Make a Move?

Farm Bureau can provide the resources, support and tools you need to move forward on your path to success. If you’re ready to make the move to a new firm, contact us to learn more about how Farm Bureau can help you grow your business.