Much has been written about the industry trend of advisors seeking their independence from large financial institutions. Unfortunately, much of what has been written is inaccurate and unhelpful.
Below are a just a few questions we’ve heard from our Partner Advisors as they were getting to know us.
I want true independence. I think I have to start my own firm. False! Many amazing advisors have neither the interest nor the skill set to open and operate their own company. You can get the benefits of independence, without the headaches.
My AUM is not large enough to go independent, I think I need to stay where I am even though I’m unhappy. Erroneous! Erroneous on both counts. First, AUM is a meaningless statistic. You can experience the benefits of being independent with a limited revenue base. Never settle. You and your clients deserve the best.
My current company sources new clients for me. I don’t want to lose that through independence or joining another firm. Do they really? In our experience, the best advisors grow their businesses by taking great care of their clients, expanding their referral base and deepening relationships with their centers of influence.
My current company has brand name recognition and I need that to attract and close new clients. Negative! Over 40% of AdvicePeriod advisors have closed the largest client of their careers since joining us. We don’t think it has anything to do with our name recognition–even though we do source many opportunities for our advisors.
AdvicePeriod is reinventing wealth management by offering advisors the freedom, flexibility, and financial rewards of independence with the support of a national network of likeminded advisors. Join the revolution.