Rick Rummage

The most important consideration when changing firms is not to tell anyone, other than your spouse, business coach or consultant. An advisor should never mention a move being contemplated.

Compensation is just part of the consideration for an adviser to go independent.

Most banks still have a very low percentage of their customers who are also brokerage clients. This presents the biggest opportunity for advisers.

Advisers at a bank may have to shift to another channel for a few years before retirement, says contributor Rick Rummage.

Key people should be focused on rainmaking, not endless other tasks.

Being able to prove past production means the difference between a great deal and no deal when you're switching firms.

The advisor often feels as if the bank's viewpoint is this: “Thanks for bringing us a revenue stream, now leave and be thankful we even gave you a job.”

Bankers managing advisors is akin to compliance officers managing salespeople. One is constantly wanting to say “No,” the other “Yes.”

Rick Rummage tells advisors to use their planning skills for their careers as well as their clients' financial futures.