Switching from my current advisor to Motley Fool Wealth Management: How do I make the transition?

As with most breakups, the timing of switching to a new investing team may never feel just right. So don’t wait for the perfect moment to say farewell, or you could be waiting a long time. Trust your gut, and make your sendoff as smooth as possible with these simple dos and don’ts:

DO reach out to them.

They will likely appreciate a heads up from you, and separating on good terms, if possible, can make future communication less awkward (especially around tax season when you might need to contact a previous advisor for tax documents).

Consider a template like this…

Hi [advisor name],

I’m writing to express my gratitude for the support you’ve provided me on my financial journey, and to let you know that I will be taking a new direction.

I’ve made the decision to switch my account(s) to Motley Fool Wealth Management to better fit my needs at this time.

You should be receiving transfer requests shortly—please let me know if you do not receive them by the end of the week.

Again, I want to thank you for your services and wish you well.

All the best,

[Your name]

DON’T feel obligated to dwell on the details.

You can summarize the reasons you’re switching, or you can simply thank them for their guidance. Remember, it’s just business.

DO ask us for help.

As financial professionals, we’re uniquely positioned to put ourselves in their shoes. And as investors ourselves, we can easily put ourselves in yours too. We’ve helped hundreds of clients like you manage the switch from their past advisors, and we would be happy to share our perspective.

DON’T wait too long to take your next steps.

Connect with your new Client Experience Specialist and/or Fool Wealth Advisor as soon as possible so we can create an asset allocation that aligns with your unique situation and goals. Then we’ll work alongside you to close your existing account, transfer your funds, and get you fully onboarded with the investment plan we created.