Broker Check

Let's Talk with Brian Heapps, CLU®, ChFC®

The Thriving OSJ Model: Adding Value and Building Relationships

In the ever-changing landscape of the OSJ (Office of Supervisory Jurisdiction) model, there are three distinct categories: dead, dying, and thriving. While some argue that the OSJ model is declining, it's important to delve deeper into the discussion. This blog will focus on the thriving OSJs and explore the factors contributing to their success.

To thrive as an OSJ today, bringing real value to financial advisors is crucial. Gone are the days when compliance oversight and an annual holiday party were enough to retain advisors. Thriving OSJs must go above and beyond by assisting advisors in growing their businesses, acquiring new clients, and protecting the value of their enterprises. Additionally, helping advisors find suitable buyers for those looking to exit the business and ensuring a smooth transition for their clients is essential.

Thriving OSJs understand the importance of scale. They offer competitive street-level compensation, leveraging their size to provide services that make advisors' lives easier. This includes payroll processing, HR support, and benefit administration for their employees. With these resources in place, OSJs can alleviate administrative burdens, allowing advisors to focus on what they do best – serving their clients.

A solid continuity plan is a hallmark of a thriving OSJ. Advisors want the assurance that their businesses' value will be protected in the event of unforeseen circumstances such as premature death or disability. By partnering with a firm with the resources and reputation to honor such commitments, advisors gain peace of mind knowing that their clients will be well taken care of.

One of the key desires of advisors is to have access to the power and technology offered by larger firms while still maintaining a small-town feel. Thriving OSJs understand this need and foster an environment where successful peers can share best practices. By facilitating collaboration and networking, advisors can learn from each other and elevate their own practices. 

Advisors seek a firm that has a stellar reputation and delivers on its promises. The ability to make one call and have all their problems resolved is highly valued. Thriving OSJs understand the importance of trust and follow-through, ensuring that advisors have a seamless experience and can rely on the support provided by their affiliated firm.

The OSJ model may be experiencing changes, but thriving OSJs still continue to add value and build strong relationships with their advisors. By understanding the evolving needs of financial professionals, thriving OSJs offer more than just compliance oversight. They provide the necessary support and resources to help advisors grow their businesses, protect clients, and navigate the industry's complexities. By staying true to their commitment to excellence, these OSJs have established themselves as trusted partners in the success of financial advisors.