A recruiter at a major broker-dealer once told me something that stuck: “Advisors always tell you it’s not about the money. But when you see money, it’s about the money.”
He wasn’t being cynical. He was being honest. Roughly 10% of financial advisors switch firms every year. They’ll cite better technology, stronger infrastructure, a more aligned culture, or a desire for greater autonomy. And sure, those things matter. But let’s not pretend the financial incentives don’t play a massive role. Advisors are being contacted daily, sometimes multiple times a day, by recruiters dangling serious transition packages.
Here’s the part nobody talks about enough: once an advisor signs on the dotted line and commits to a new firm, the real work begins. And if that transition is sloppy, delayed, or poorly managed, it can unravel everything – the relationship with the new firm, client trust, and the revenue that justified the move in the first place.
That’s the problem we built FormsLogic to solve.
Why Advisor Transitions Matter More Than You Think
An advisor transition isn’t just a paperwork exercise. It’s the first real experience an advisor has with their new firm. If it goes well, you set the tone for a productive, long-term relationship. If it goes poorly, you’re starting from a deficit – an unhappy advisor, frustrated clients, and lost revenue while assets sit in limbo waiting to be moved.
Think about what’s at stake. Client retention is directly tied to how smooth the transition feels. A client who gets asked to resign documents three times because of errors isn’t going to be thrilled. They may start wondering if this new firm is really any better than the last one. Meanwhile, every day that assets aren’t on the new platform is a day of lost production and advisory fees.
There’s also a compliance dimension that gets overlooked. During a transition, all paperwork has to be in good order. It needs to be reviewed, approved, and processed correctly the first time. Having a reliable system to manage that process isn’t just a convenience, it’s a regulatory necessity.
The Pain Points Nobody Warns You About
In my experience running transitions at FormsLogic, we’ve completed over 75 unique transitions, moved more than 250 advisors, and processed upwards of 50,000 accounts across 15 firms and I’ve seen the same mistakes repeat themselves.
The biggest one? Underestimating prep time. Recruiters love to talk about how easy the transition will be. I call it the “auto-magic button” mentality. They make it sound like you click a button and your 500 accounts just appear at the new firm. It doesn’t work that way. Not even close.
The reality is that most advisors don’t have clean data. Their CRM hasn’t been updated in years. Key fields are missing. Client records are scattered across multiple systems – a Wealthbox here, a legacy corporate platform there, maybe some data sitting in a clearing or custody system. Before a single form can be generated, all of that data needs to be consolidated, normalized, and validated.
Then there’s the misalignment problem. The recruiter promises a 15-day turnaround. The advisor expects it. But the transition team knows that’s unrealistic, especially when data gaps surface mid-process. When expectations aren’t set correctly from day one, everyone ends up frustrated.
On the receiving firm’s side, I see pain points too. Incomplete or outdated forms because there’s no centralized repository. Overloaded back offices that don’t have the infrastructure to handle multiple transitions at once. Weak post-transition reconciliation that leaves accounts floating in a pipeline nobody’s tracking.
Our Approach: The Bridge Six Framework
At FormsLogic, we built a structured, six-step process we call the Bridge Six. It’s designed to bridge an advisor from one firm to another as efficiently and painlessly as possible.
It starts with a discovery meeting. We sit down with the advisor for 30 to 45 minutes to understand their situation such as how many accounts, where the data lives, who’s on their team, what their comfort level is with technology. Just as importantly, we coach them on what’s coming. We set realistic expectations upfront so nobody is blindsided later.
Next comes the contract, which is purpose-built to protect the advisor, the firm, and FormsLogic from any potential regulatory issues. The advisor confirms client approval to move forward and commits to acting in the best interest of their clients throughout the process.
From there, we move into data capture and consolidation. We pull from every available source like CRMs, corporate systems, custody platforms and run scripts to normalize everything into a single working template. That template has been pre-built with the receiving firm based on the specific paperwork required for their account types.
The fourth step is where most of the work happens. This is the iterative workflow creation phase, where we collaborate closely with the advisor to review form packets, identify data gaps, and fill in what’s missing. There’s no shortcut here. If there are gaps, the advisor has to help close them. We can guide them, but they know their clients better than anyone.
Once the data is solid and the advisor is confident in the paperwork, we wait for affiliation day. When the receiving firm gives the green light, we flip the switch. The advisor can print and wet-sign or use any major e-signature platform, we integrate with all of them. We train the advisor to submit paperwork in about an hour, and completed packets route automatically to the back office for processing.
Best Practices for a Successful Transition
After hundreds of transitions, a few principles stand out above the rest.
Start early. If you have 60 days, use all 60 days. Don’t wait until day 30 to kick things off and then wonder why the timeline is tight. The earlier you begin, the more runway you have to catch data issues, train staff, and build confidence with the advisor.
Treat it like a project. Put a plan in place with kickoff dates, weekly check-ins, and clear deliverables. When there’s accountability on both sides, ours and the advisor’s, things move faster. When it’s left open-ended, risk multiplies.
Communicate relentlessly. Upfront communication is critical. If there’s a delay, say so. If the advisor needs to adjust their schedule to make a deadline, tell them directly. This is a partnership, and both sides need to stay engaged, available, and honest throughout the process.
And finally, be patient with each other. Transitions are stressful for everyone involved. There’s pressure on the advisor to hit revenue targets, pressure on the firm to onboard quickly, and pressure on us to deliver. Staying level-headed and treating each other with respect goes a long way toward getting to the finish line.
What Success Actually Looks Like
When a transition goes right, the numbers tell the story. High asset retention within 30, 60, and 90 days. Low NIGO (not-in-good-order) rates on submitted paperwork. Fast account setup times. And most importantly, an advisor who can focus on their client relationships instead of drowning in paperwork.
That’s the goal we chase on every engagement. Because at the end of the day, every transition is unique. Different advisors bring different skill sets, different comfort levels with technology, and different team structures. Our transition coordinators, each with five to ten years of industry experience, adapt their communication and process to fit the individual advisor, not the other way around.
The firms that get this right use it as a competitive advantage. When an advisor is weighing two offers and one firm says “We have a proven platform that will make your transition seamless,” that’s a powerful differentiator. It’s not just about getting the advisor in the door. It’s about making sure the first experience sets the stage for everything that follows.
The Bottom Line
Advisor transitions aren’t going away. The market is more active than ever—consolidation, roll-up RIAs, wirehouse departures, and a wave of retiring advisors whose books need new homes. The firms that invest in getting transitions right will win more recruits, retain more clients, and build stronger long-term relationships.
At FormsLogic, we call it ACE: Affordable, Correct, and Expedited. That’s the standard we hold ourselves to on every single transition. If you’re a firm looking to elevate your onboarding experience or an advisor preparing for a move, we’d love to show you how the Bridge Six framework can make the difference.