Written by: Javi Otero
Advisor Recruiting: Promises Made vs Reality of Transitioning
Let’s get one thing straight: not all recruiting pitches are lies. However a lot of them are… aspirational.
We’ve seen it time and time again – financial advisors sold a dream during the recruitment phase: “You’ll get white glove transition support,” “We’ll handle everything for you,” “Our custodian is amazing and will walk you through every step,” “Just plug in and we’ll take care of the rest.”
Then reality hits. The handholding becomes a PDF packet. The white glove becomes a rubber glove. And the support you were promised? Turns out it’s being stretched across three other teams onboarding at the same time.
This isn’t about bashing recruiters – many are well-intentioned and genuinely believe what they’re saying. But for advisors preparing to transition to independence, the gap between what’s promised and what’s delivered can be wide enough to derail the first six months of your new firm.
Let’s talk about it.
The Recruiting Pitch Is Designed to Get You In the Door
Recruiters (internal or external) have one job: convince you to join their platform, firm, or RIA. They’re not evil for that. But just like any sales process, the narrative is curated. You’ll see the best-case scenario, not the average experience.
Will you get support? Probably.
Will it be world-class, highly personalized, and fully resourced?
Unless you’re a massive team with north of $1B in AUM… probably not.
“White Glove” Transition Support – For Who, Exactly?
This is a big one. Many RIAs and custodians love throwing around the term white glove when describing their transition process. But the truth is, white glove means different things to different people.
To an advisor, it may mean:
- A dedicated transition team
- Account paperwork handled for them
- Onsite support for account openings
- Project management from start to finish
To the firm, it might just mean:
- A templated welcome email
- Access to a shared drive
- One Zoom call per week with a rotating support associate
- Handling of the registration process
Let’s be honest: RIAs are often onboarding multiple teams simultaneously. Even if they want to give you full attention, bandwidth is limited. And many don’t have a dedicated transition team. That’s not a knock on the firm – it’s just not their model.
This is exactly why third-party transition support services exist; because even great RIAs can’t always deliver the operational lift required to make your transition smooth.
The “We’ll Do It for You” Trap
If a recruiter or firm tells you, “Don’t worry, we’ll do everything for you” – run. Transitioning your practice isn’t something that can be done for you. It’s a hands-on process that requires your involvement, especially if:
- You’re coming from a non-protocol firm
- You don’t own the client data
- You have complex account structures or legacy assets
- You’re rebranding or changing your entire tech stack
You’ll need to be involved in outreach, ACATs, form reviews, client onboarding, and more. The idea that someone else is going to wave a wand and your entire book will transfer flawlessly is… a fantasy.
Could you have a team help quarterback the process? Absolutely; however, “doing it all for you”? Not how this works.
Custodian Support – Sometimes Amazing, Sometimes… a PDF
Another common misconception: “My custodian will help me every step of the way.”
This is true for some teams. Specifically:
- Large AUM teams ($500M+)
- Aggregators that have negotiated custodial white-glove packages
- Breakaways with strong internal resources or special relationships
But for many independent advisors – especially solo practitioners or smaller ensembles — custodian support might look like this:
- A few onboarding calls
- A shared folder with pre-filled ACAT templates
- Maybe someone assigned to answer questions
Onsite help? Rare.
Customized assistance? Rare.
Someone to project manage your entire transition? Virtually non-existent.
Again, this isn’t to knock the custodians. They’re not set up to transition your business – they’re there to open accounts, move assets, and provide the infrastructure. Not manage the chaos.
So Who Does Manage the Chaos?
If your RIA doesn’t have a transition team, or if you’re starting your own firm, you need to bring in help.
Transition consultants (like us at ATS) are built to:
- Gather and clean client/account data
- Pre-fill paperwork
- Coordinate with custodians and internal teams
- Track accounts, ACATs, and transfer status
- Troubleshoot NIGOs and client service issues
- Build out workflows and templates for your new firm
- Keep everyone accountable and on schedule
And unlike internal teams, we don’t have to split our focus between three other transitions that month. You’re the client. Sometimes an RIA just needs a third-party partner to carry the operational load – especially during peak onboarding seasons.
Does This Mean the RIA or Custodian Is Bad?
Not at all.
In fact, some of the most advisor-friendly firms we’ve worked with have modest transition departments. Why? Because their long-term value isn’t in project management – it’s in culture, payout, platform flexibility, and growth support. Just because a firm doesn’t have a transition concierge doesn’t mean they’re the wrong fit.
It just means you need to go in with eyes open and plan accordingly.
How to Vet the Reality – Not Just the Pitch
Before you commit to a firm or custodian, ask the right questions:
- How many teams are you onboarding this month?
- Do you have a dedicated transition manager? Can I meet them?
- What level of involvement will I have during the process?
- What does your timeline look like from resignation to full onboarding?
- Do you use any third-party vendors for transitions? Can I speak with them directly?
And most importantly: talk to other advisors who’ve made the move. Ask them what surprised them – good or bad.
Final Thoughts
Recruiting is sales. Transitions are operations. Don’t confuse the two.
It’s one thing to be sold on a platform – it’s another to land on it without the support you were expecting. Most advisors don’t fail because they chose the wrong custodian or RIA. They struggle because they believed the pitch without preparing for the reality. If you want the recruiting pitch to become your reality – make sure you’ve got the right team helping you get there.
Need help navigating your transition?
That’s exactly what we do.
