Independent financial advisors no longer hesitate to move when their broker-dealer stops meeting their needs. In today's market, advisors seek an easy transition process, product flexibility, and a firm that actively supports their business growth. Derrick Friedman, founder and president of Broker Dealer Change, made this clear in a recent interview with ThinkAdvisor, emphasizing that broker-dealers must adapt to survive.

According to ThinkAdvisor, advisors' motivations for switching are clear. The top priority is a business-friendly environment. That means reasonable compliance oversight, robust technology, product flexibility, and a support staff invested in helping grow the practice. While compensation and payout rates matter, Friedman insists they are secondary to ease of doing business.

Friedman told ThinkAdvisor that the recruiting business itself has evolved alongside these trends. Consolidation within broker-dealers has sparked increased advisor movement and accelerated growth in the RIA space. While there now are fewer independent BDs to choose from, the rise of RIA firms has created a broader array of opportunities for advisors seeking more freedom and control.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.