There’s certainly much to celebrate when advisors find their best business lives—yet the ride there can be an emotional roller coaster.
There’s the mind-boggling process around due diligence. The excitement for something new. The worry if you’re making the right decision. The anticipation and anxiety that comes with change. And the finish line—where all the emotions settle down, leaving you with that feeling of accomplishment.
As consultants to the industry’s top financial advisors from early on in their educational stage, through exploration, and on to transition, we often wear many hats. We have the shared role of part negotiator, part confidant, part business coach, and even part therapist—supporting advisors throughout the decision-making process while hearing their concerns and helping to assuage their anxieties.
In short, we’ve seen it all.
In this episode, Mindy Diamond and Louis Diamond share some ideas culled from over 25 years of experience to help you navigate what can be a daunting process and better cope with what can feel like a tumultuous ride, including:
- The key phases of the due diligence process—and how understanding and preparing for each will keep everyone focused.
- Strategies and best practices to adopt—and how these can help keep your emotions in check.
- The power of clarity and conviction—and how each drive both a positive process and outcome.
- Anecdotes from advisor transitions we’ve facilitated—and what takeaways are most resounding.
- Communicating and setting expectations—and how doing so for all involved, including the team, clients, and even family members will help to alleviate unexpected surprises.
Even if you have no intent of making a move, it’s an episode that will help you better understand the due diligence and transition processes—and how to make them more efficient and less stressful.
Download a transcript of this episode…
