There are many reasons an independent RIA who also holds a license with a broker-dealer might want to change broker-dealers. Maybe something in the culture of the firm has changed. Maybe there was an acquisition and the firm you joined for its small, family-owned environment is now owned by a much bigger firm with owners you’ve never met. Whatever the reasoning, there are certain questions RIAs should ask before making a transition. Pat McEvoy, President of Woodbury Financial Services, spoke with Financial Planning about his thoughts on what these questions should be:
Q: What questions should RIAs ask before changing broker-dealers?
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