Summary: Almost every financial advisor contemplates whether or not to break away from a traditional wirehouse or brokerage firm and establish an independent advisory practice. In this three-part series, we hope to help advisors make the best decision for their business and clients. This first installment reviews the primary concerns about whether independence is right for you: access to client solutions, simplicity in day-to-day business and compensation earned by you, the advisor.
 Economics matter, but purpose matters most. Just ask yourself, “is my firm helping me achieve my long-term goals and those of my clients?” If the answer is “yes,” and none of the characterizations above describe your own feelings, then transitioning to independence may not be a viable or appealing option."Ron Briggs, CEO, Entry Point Advisor Network (EPAN). . |
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