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In the economic food chain, someone always ends up footing the bill. Prices go up, margins shrink, and somebody is left saying, “Fine, I’ll eat it.” That’s true with tariffs, oil shocks, crop failures—and now, apparently, with your broker-dealer’s new “service enhancements.”
One of the biggest Broker Dealers just slapped advisors with a new platform fee of 5% on AUM. Yep. Five percent. Not an admin fee. Not a compliance fee. A fresh, juicy bite straight out of your bottom line.
They’re calling it an investment in “technology and tools,” though many advisors will say they were perfectly happy with the existing setup, since nothing is different for many except the fees they have to pay to their Broker Dealer have increased by over 30%.
So now you’ve got 2 choices:1. Pass the cost to your clients, mere weeks after telling them fees weren’t changing.
2. Swallow the cost yourself, and take a nice hit to your own bottom line.
Let’s do some math, shall we?
And if that’s not bad enough, many advisors just went through a massive paperwork exercise with clients—almost a full repapering—after being told it was all routine and definitely not about raising fees. Flash forward a few weeks, and here we are.
Do you want ketchup for that crow you’ll need to eat?
Let’s recap:
At this point, the options are limited. And let’s be honest, none of them are good:
But there is a third option.
3. Get a new Broker Dealer that actually lowers your overall fees by 50%.
(And gives you an incentive package of between $2,500,000 to $7,500,000 in this case to make the switch.)
Seriously.
Leave.
Clients like you, not your broker-dealer. Every industry survey confirms it. And while this BD may be banking on your love of that company logo polo in your closet, smart advisors know a lot more advisor-friendly options exist elsewhere.
There are many great broker-dealers that are doubling down on service, support, and cutting-edge tech, without sticking their hands in your pocket.
But switching BDs is risky, right? That’s the story your BD wants you to believe.
Here’s the truth:Moving is manageable. The risks are overblown. And the rewards? Significant.
Especially when you partner with 3xEquity.
We help advisors make informed career decisions every day. We get you multiple offers, help compare, negotiate, and find the best fit at no cost to you.
If you’re getting hit with new fees and tough conversations with clients you don’t have to sit there and eat it.
Take the next step. Reach out to 3xEquity today for a complimentary fee analysis, and let’s see what options are really on the table. You might be surprised how much better things taste somewhere else.
