Mindy Diamond Quoted
For financial advisors considering going independent it’s important to understand the differences in career paths offered by independent broker dealers and RIAs,Mindy Diamond writes on WealthManagement.com.
For starters, advisors are more likely to get some transition funds from IBDs, from 25% to up to 125% of their revenue, she writes. And while national RIA firms may offer some sort of monetary package, advisors joining a RIA aren’t technically independent as they work on a W-2 model, according to Diamond. What’s more, advisors leaving a brokerage may feel more at home with an IBD as they tend to offer more support for breakaways than RIAs, she writes.