Sanctuary Wealth Partners
February 2025
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Broker Protocol is an agreement among financial firms that outlines how financial advisors can switch employers without being sued for soliciting clients. The protocol specifies a set of rules that departing advisers must follow when contacting clients at their new firm, in order to avoid violating non-solicitation agreements and to ensure a smooth transition of clients to the new firm. While protocol firms may let you take limited client contact data and reach out to clients, non-protocol firms do not allow you to take any client data or to “solicit” clients. Working with Sanctuary, you'll be carefully guided on how to follow the rules set by your existing firm.
We are pleased to inform you that the majority of equities traded on exchanges can be transferred over without any issues. One of the main aspects of the transition curriculum that we review would be in your holdings of: Mutual Funds, Alternative Investments and Third Party Asset Managers. This due diligence will help you prepare for your launch day and ensure a seamless transition for your book of business.
Being a business owner comes with numerous advantages, and among them, is the freedom and flexibility that come with being a business owner are invaluable. As a business owner, you have the autonomy to make decisions regarding clients, projects, and the direction of your business. You have the ability to choose the clients and projects that align with your expertise and interests, allowing you to create a fulfilling and tailored professional experience. Moreover, you have the flexibility to set your own schedule and work-life balance, giving you the opportunity to prioritize personal commitments and enjoy a more flexible lifestyle. Another significant advantage of owning a business is the control you have over its valuation. As a business owner, you have the option to sell part or all of your business whenever you decide or when the opportunity arises. This level of ownership allows you to capitalize on the value you have built and potentially profit from the sale. Whether you choose to sell a portion of your business to raise capital or decide to exit the business entirely, the ability to control the valuation gives you a strategic advantage. In terms of tax treatment, being a business owner can provide favorable benefits compared to being an employee. As a business owner operating under a 1099 entity, you may be eligible for long-term capital gains treatment on the profits generated from the sale of your business or its assets. This can result in significant tax advantages compared to the ordinary income tax treatment typically associated with W-2 wages. Together, these advantages make business ownership an appealing option for individuals seeking independence, control, and financial benefits.
You will have the power to create your very own brand identity, build a compelling website, design eye-catching brochures and pitch books, and develop engaging content. You'll have the freedom to choose your firm's name, design a logo, and create collateral that truly resonates with your valued clients, empowering your independent brand. You'll be able to share your content on social media, conduct insightful interviews, host insightful podcasts, and even produce your own videos. The possibilities for creative marketing are endless, as long as you understand and cater to the content preferences of your target audience. We'll be there to support you every step of the way.