Answers to the Top-Five Questions Advisors Have About Independence
It’s hard to deny the increasing momentum toward independence. Whether it’s studies showing year-over-year growth nearing double digits, or headlines touting another breakaway team making the leap, there are few advisors who can deny the significance and validity of the space.
Yet, while many advisors are interested in the freedom, flexibility and control independence offers, there are still those who presume it’s just “not right” for their business—and some may be correct. But often we find there are advisors who are simply held back by fear, such as concerns over a lack of support, or that clients won’t be well served without the big bank behind them, or of the inability to monetize their life’s work.
While the fear itself may be real, it’s a lack of knowledge that often drives it. And it’s for that very reason that I set out just over a year ago to create a podcast series on independence. That is, as a way to educate advisors on the space and empower them to make decisions based on facts—rather than be trapped by fear of the unknown.
Throughout the series, I’ve had the opportunity to have conversations with advisors who made the leap and industry leaders who provide the backbone of support, and we’ve found common themes that help dispel the myths and reveal the facts. As a result, we’ve gathered the five most frequently asked questions from advisors and responses from those who live and breathe independence every day. We’ve also encapsulated the brilliance these guests shared in our most recent episode, so I encourage you to listen to it for more on the topics.