Advisor mobility reached an all-time high last year, with 11,172 advisors with more than three years of experience changing firms—a 16.2% jump from the prior year, according to a report by Diamond Consultants. That backdrop set the stage for a panel discussion at the Canadian Lounge during the Future Proof festival in Huntington Beach, Calif., where Jared Rabinowitz, CEO and founding partner of Toronto-based Q Wealth, offered a cautionary perspective for advisors contemplating a move.
Rabinowitz urged advisors to run a thought experiment before making any career transition. "What they should do is sit down at a table with an empty chair across from them and imagine any one of their favorite clients in that chair and think about what is the story from the perspective of the client that I will tell them about?" he said. The exercise, he argued, forces advisors to consider how the move will affect the client's experience—not just their own compensation.
"At the end of the day, the move can't just be all about money—it's got to be about what is improving the experience for the client," Rabinowitz said. He emphasized that advisors should evaluate whether a new firm would make the client's experience "richer, deeper, and better." This client-centric approach, he suggested, is often overshadowed by the financial incentives that dominate recruiting discussions.
The record-breaking mobility numbers have turned advisor recruiting into an arms race, with firms offering increasingly lucrative packages to attract experienced talent. Yet Rabinowitz's comments highlight a growing concern that the focus on dollars may be shortchanging both clients and the long-term health of the advisory profession.
Josh Brown, CEO of Ritholtz Wealth Management and co-founder of Future Proof, offered a hirer's perspective during the same panel. Brown noted that Ritholtz, which manages over $10 billion in assets, is highly selective, hiring only one or two advisors annually despite meeting with roughly 100 candidates each year. His screening process, he said, hinges on a simple question: "Would I bring this person home to have dinner with my family?"
"If the answer is even maybe, forget it," Brown said. He stressed that assets under management and revenue generation are secondary to personality and cultural fit. "Put aside how much money they have under management, how much revenue they can generate—put all that aside. Is this person annoying? It's so underrated," he added, drawing laughs from the audience.
The panel's insights come at a time when advisory firms are also grappling with the impact of technology on client service. As Domain Money cuts advisor staff as AI boosts client capacity, the role of human advisors is evolving, making the client relationship even more critical. Similarly, Anthropic's Claude for Advisors debuted at Future Proof, signaling that AI tools are becoming integral to advisory practices.
Rabinowitz's advice resonates with broader industry trends. As wealth transfer delays cost families more than money, advisors are increasingly being called upon to manage complex family dynamics. A move that disrupts those relationships could have lasting consequences, he warned.
For advisors weighing a change, Rabinowitz's message is clear: the decision should be driven by the value delivered to clients, not just the size of the signing bonus. In an era of record mobility, those who prioritize client experience may find themselves better positioned for long-term success.
