When Tom Brady leads the New England Patriots into action in Super Bowl LIII this weekend he will attempt to become the oldest QB in history to win the big game. At 41 years old Brady is in rarified air, performing at peak levels well beyond the NFL’s average age of 26.6 (according to Elias Sports Bureau).
At 3xEquity we are often asked about the best age range to transition to a new broker-dealer, with some asking a more dire version of the question, “Am I too old to transition?”
Though there is no one correct answer to this question, there are multiple factors each advisor must consider as they approach the next phase in their career.
Nothing Worth Having Comes Easy
Transitioning to a new broker-dealer isn’t easy. What it can be is lucrative (not to mention possibly one of the best decisions you will ever make), and here is where the decision becomes much clearer for many advisors as they advance in their careers. Presented with the opportunity to turn years of hard work into real dollars (while potentially upgrading their ability to grow and earn down the road) is a tremendous incentive, making it worth the effort for over 400 advisors each year.
How Much Do You Have In The Tank?
Brady has to push for 60 minutes this Sunday to land his prize. What is your energy level? Can you give a good 3-6 month push to make your transition a success? Your new broker-dealer may have certain expectations re: the amount of assets you are able to convert. These expectations will tie into your compensation, meaning the harder you work the more you stand to earn. So, how much do you have in the tank?
Is Age Just A Number?
Brady, and to a degree, his rival on the other side of the ball – 24-year-old Ram’s QB Jared Goff, are proof that age is just one factor in the success of an individual. There may be reasons to move to a new broker-dealer early in your career, or after you have established yourself across decades.
In the end, there isn’t one ideal age to transition to a new broker-dealer. The specifics of your situation and your inner drive also play an important role.
If you are curious about transitioning and have questions about the process or how you can find the quickest route to your own career endzone, call 855.491.2910 to schedule a complimentary, confidential consultation or click here to receive 2 custom offers from top broker-dealers via our 100% anonymous and risk-free tools.