Change is constant, and how financial advisors adjust to transitions determines how successful they are in their careers and in planning for their clients' futures.
Take Robert Brewer, a branch manager for Raymond James, who came to the firm after Morgan Keegan's acquisition one year ago. Brewer is the subject of our cover story this month, "New Breed," which tracks what that experience was like from the days when Morgan Keegan was on the block and Brewer's Lexington, Ky., team was ripe for poaching to now-as the two firms merge their cultures and put the final technology switch in place.
For Brewer, successfully making it through the transition took faith, he admits, from the last few "very, very difficult" months when Morgan Keegan's fate was still unknown.
Navigating through transitions can also make or break relationships with clients. Often, it is how an advisor handles those conversations that make the difference, as we find out in our second feature this month, "Talking to Small Business Owners." That story includes some real life lessons from advisors focusing on this niche who have helped their clients find answers to their most pressing problems.
We hope this issue will also help inspire you on how to take action as you face changes in your business. That includes thoughts on how you can emphasize big picture strategy for your practice from Matt Matrisian, author of The Power of Practice Management in Five Questions; learning how to attract new clients who are in career transitions of their own in "The Grand Slam Referral System"; and how to inject new life into your business when your production stalls in "Climbing out of a Growth Rut."
We would appreciate hearing from you on how you have waded through unexpected career changes at our feedback email address below. Here's to your next leap.
Last month's story on compensation did not include Morgan Stanley's growth awards, growth premium or capital accumulation program in the firm's charts. That information has been added online, and can be found in the story "Compensation Plans Step Up to the Next Level."
- Recruiter's Tour of Raymond James
- Raymond James' New Breed Pushes Ahead After Morgan Keegan Acquisition