Changing external partners is a normal and healthy part of running a smart, growing business. Let’s break it down.
Every strong company should perform due diligence—not just on their internal operations—but also on the external partnerships that support their work. Whether it’s a broker-dealer, a tech provider, or a compliance consultant, these partners impact everything from day-to-day operations to long-term strategy and client experience.
As a best business practice, forward-thinking firms regularly evaluate these relationships: Are we aligned on growth strategy? Do they support our values and mission? Can they scale with us as we grow? Are they still the right fit for our evolving needs?
These are essential questions. And sometimes, after careful analysis, the answer is clear: it’s time for a change.
It’s important to emphasize that changing external partners—especially in highly regulated industries like financial services—isn’t a casual decision. It’s complex. It often involves legal contracts, operational transitions, training new teams, and in the case of broker-dealers, regulatory scrutiny from organizations like the SEC and FINRA.
In other words, no firm makes a switch lightly. If a company were trying to hide something, the last thing they’d want is the spotlight and paper trail that comes with changing a major partner.
Strategic Growth Requires the Right Support
As firms evolve, their needs change. A partner that was a great fit five years ago might no longer be equipped to support where the business is headed next. Maybe the firm is entering new markets, adopting innovative technologies, or simply growing faster than expected.
In that case, sticking with an outdated partner becomes more than just a missed opportunity—it can actively hold the business back.
That’s why high-performing companies treat external partnerships the same way advisors treat client portfolios: consistently reviewing, optimizing, and adjusting based on what’s best for the future. Alignment, scalability, and shared values are non-negotiables.
At 49 Financial, we’re always evaluating how each of our partners supports our growth and mission. While we still utilize our broker-dealer for certain variable products, that relationship now represents a small, focused portion of our broader business model. This is a strategic choice—one that allows us to stay nimble, serve the ever-changing needs of our clients, and continue scaling with integrity.
At the end of the day, transparency is key. As a firm, we believe in being open about the decisions we make—especially when they affect our advisors, clients, and stakeholders. So, if you’ve ever wondered why a company would switch an external partner—whether that’s a broker-dealer, a vendor, or a technology provider—know this: it’s not a red flag. It’s usually a sign of intentional leadership, proactive planning, and a deep commitment to excellence.
That’s the kind of growth we’re building toward every day.
49 Wealth Management, LLC d/b/a 49 Financial, is an SEC registered investment adviser. All investment advisory activities are performed through 49 Financial. All commissionable product sales are performed through and under the supervision of Oakwood Capital Securities (“Oakwood Capital”). 49 Financial and Oakwood Capital are not affiliated entities.
