Financial advising wasn’t Doug Moss’s first career, but he plans on making it his last.
After decades of learning the ins and outs of business with large corporations (Gymboree and Jostens) and his own consulting firm, Doug was looking for a new role that allowed him to flex the valuable skills he’d developed through the years: relationship building, entrepreneurship education, and business development. He was recruited by Edward Jones, and the role felt like a great fit—especially since for years, he had stayed close to his own investments and learned as much as he could from his personal financial advisor along the way.
After a few years with the large broker-dealer, he started to understand that he wanted something different within the industry. But, like many financial advisors, he didn’t know what he didn’t know about transitioning.
Doug says he has a lot of gratitude for Edward Jones. “They made me a financial advisor. They helped me develop the skills to be successful in this career,” he says. Edward Jones has around 19,000 branches, but he was the only advisor at his branch office. “I worked in a silo, if you will, where I did it all. There were a number of Edward Jones branches nearby that I got advice, support, and mentorship from, but I worked alone,” he explains. He wanted to be part of a team.
Additionally, there were changes to his compensation structure that made him rethink his longevity with Edward Jones. “The numbers changed. The pandemic had taken its toll on me. Working solo had taken its toll on me, and I knew I needed to make a change. I just didn't know how, and I didn't have the ability to put energy into it,” he remembers.
Around this time, Doug became connected with Boston Cardinal, Founder and CEO of Vantage Impact, a financial advisor recruiting firm, and a conversation started.
“Boston and I had an immediate connection. He gets me, he took the time to get to know me, and to understand what I was looking for in a transition to a new firm. This is my last job. I'm not going to make another job change. I want a firm that I can sunset with, whether it be six or ten years from now. He got that,” Doug explains.
“More importantly, he advised me to look at different types of firms: independent family wealth management firms, firms affiliated with broker-dealers, and RIAs—kind of the range of different opportunities out there,” Doug says. With Boston’s help, Doug met with six different types of firms. “He was clear in articulating what to expect in individual meetings, and he did all the heavy lifting.”
Not only did Doug applaud the introductions Boston made for him, but also the resources he provided to educate him, such as the 150+ Due Diligence Questions for Financial Advisors Considering a Firm Transition and The Ultimate Transition Guide for Financial Advisors.
“His thoroughness was impressive. His understanding of what I needed to know and ability to provide that for me: unbelievable,” Doug says.
After a handful of introductions and a lot of consideration, Doug narrowed his choice down to Parallel Advisors, an RIA based in San Francisco. Doug understood that his transition had to benefit both himself and his clients.
Parallel offers the team-oriented work environment Doug desired, providing him with colleagues for collaboration, mentorship, and valuable insights to enhance his practice. Not only that, but he can also offer his clients benefits like competitive pricing, better service, more investment opportunities, and cutting edge technology. “It checked the boxes on what I wanted, and checked the boxes on what my clients want,” he explains.
A few weeks into his transition, he has no “buyer’s remorse.” Being part of a team environment and engaging with intelligent colleagues on a daily basis has significantly enhanced his professional, emotional, and psychological well-being.
“It was the right move for me at the right time, for the right reasons. I have no regrets whatsoever,” Doug reflects.
“The opportunity that I'm starting with Parallel Advisors is a life-changing kind of thing for me, not only in terms of compensation and client relationships…just life-changing. And to be my last job—at a firm where everybody seems blessed that they're working at Parallel—you can't say that about a lot of places. I wouldn't have gotten here without Vantage Impact.”
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