Advisors can be of two minds when it comes to stability. They value it in the markets and in money managers, and to build and grow their practices they foster it in their clients, colleagues and employees. But as perpetual seekers of the optimal, evidenced in how they build portfolios, serve clients and build their own businesses, many are not content with a stability that only delivers a good-enough business model: they want the best model for themselves, their clients and their legacies.
To help advisors who are of the seeking variety when it comes to their level of independence, the editors at the Investment Advisor Group (IAG) are hosting a Web seminar on Sept. 25 that brings together three industry leaders who have the experience and expertise to guide advisors on their individual path to independence.
Tom Giachetti of Stark & Stark (left), Tim Welsh of Nexus Consulting (below) and David Patchen of Raymond James — all well known and respected in the advisor community for their informed, no-nonsense insights—will share their knowledge on the free one-hour webinar.
They will address the legal, financial, compensation, client retention and succession planning questions that advisors must ask when considering a move from an employee-based business model to an independent business model, whether that model be an independent contractor broker-dealer rep, moving from one BD to another, or moving to a fully independent RIA model.
Beyond just providing a list of questions advisors should ask themselves, however, participants in the Web seminar, hosted by this writer, editorial director of the IAG, will learn how to proceed in moving from one business model to another.
In particular, many advisors at full-service brokerage houses are considering making the move to independence. As the reputations of the big brokerage firms have suffered over the past few years, and as the investment options, technology and business support provided by independent broker-dealers, RIA custodians and rollup firms have narrowed if not eliminated the gaps between the Wall Street firms and independent firms, taking such a step can be more appealing to brokers for a number of reasons.
The web seminar will explore those reasons, provide data on the actual number of ‘breakaway brokers’ and where they’re headed, and in addition to providing the industry context in which these moves will happen, will provide practical guidance on the optimal ways—plural intended—to ‘Go Independent’ for advisors.
We invite you to register for this event on AdvisorOne. It will take place on Tuesday, Sept. 25 at 1:00 PM Eastern time.