Advisors, particularly in the W-2 space, are having the heat turned up on them and they don’t even realize it. The question is, how? In this episode of Advisor Talk, Elite Consulting Partners CEO Frank LaRosa and President Dale Dempsey provide the answer to that question as they dive into why the seemingly revenue neutral compensation grid tweaks at wirehouse firms, in fact, constrain advisors and limit future earnings.
Learn directly from Frank and Dale key insights such as:
*how deferred compensation can be used by firms as a tool to restrain advisors from making a move to a new firm partner.
*the psychology of the compensation break-even point for transitioning advisors and how it can create faulty thinking for timing a move.
*what the real math is behind compensation grids and understanding what you are paying to stay at your current firm partner.
*discovering just how much money you are leaving on the table by not making a move.
Frank and Dale’s conversation is a wake-up call for every advisor considering a transition opportunity and challenges advisors to move past the status quo. By using the tools in this episode, listeners can reframe their thinking and view transitioning as a long-game play in order to maximize overall financial payout and ultimately achieve the career success they are seeking.