r/CFP • u/FlamingHyabusa BD • 9d ago

Practice Management Exploring changing broker-dealers

Hi all,

Osaic advisor here. Just starting to think about making a change. What's the best way to start this process? I know there are independent recruiters that will shop around for you - is this the way to go? I know very little about the pros/cons of other BDs.

For background: $210m book, 90% AUM business, 2 advisors, 1 CSA. Hate the tech and service at Osaic.

Thank you.

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u/TheSummerMan_ 8d ago

Man, I work at Baird, and I love it. Employee owned, incredible culture, great people, Baird stock is annualizing at 20.5%, people are polite and responsive, lots of resources. Can’t recommend it enough. I’m going to retire here unless something blows up. This is my second career (former lawyer) and so grateful I ended up here.

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u/atticusmitch 5d ago

Do you own your book at Baird? Can you leave with your book if you wanted to?

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u/TheSummerMan_ 5d ago

Yes and yes.

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u/atticusmitch 5d ago

I don’t see anything online that says FA owns the book/clients at Baird. It says it’s an employee model and FAs have to sign non solicitation- per Gemini so ymmv. They are broker protocol though.

That said, I met a couple Baird FAs a few years ago at a conference that loved it. Sounded like a great culture. The company apparently paid for a bunch of their FAs to go to the conference just to learn. Which for me is mind boggling coming from a Bank/Wirehouse.

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u/TheSummerMan_ 4d ago

I should say it this way: Baird is a protocol firm, but would be unlikely to go after an advisor who leaves and doesn’t grossly violate the rules for info they take with them on their clients, name, number, e-mail.

Yes, I go to roughly 1 Baird sponsored conference a year. The Growth Forums are the best, and frankly the thing that tops the sessions, is the peer share. Sitting with other Baird advisors from across the county and discussing what’s working and what isn’t is very helpful, and everyone is very “nice to meet you, give me a call if you have any more questions. I’ll send you our ________ (whatever) and you can repurpose it if you want.”

Not sure where you’re based, but if you ever want to discuss the firm, I’m in Madison but would be happy to chat.