By Deborah Aronson – The independent broker dealer (IBD) space has experienced a transformation of late, just short of the consolidation we witnessed in the wirehouse world during the financial meltdown of 2008. Today, a changing regulatory environment and an increase in the overall cost of doing business has placed an enormous burden on independent broker dealers, no matter their size. Small broker dealers that lack the scale necessary to invest in their compliance and overall infrastructure are rapidly becoming an endangered species.
By Wendy Leung – Many advisors appreciate the merits of independence including open architecture, the lack of proprietary products and the control they gain over pricing, account minimums and the client service model; yet many will remain in the employee world since they perceive roadblocks that can’t be solved for. Oftentimes this is a case of misperception.
By Wendy Leung – The migration to independence has huge momentum and has prompted many advisors to look inward and ask themselves whether they have the entrepreneurial DNA and the mindset to make the leap to independence. In the end, there is no one size fits all answer to this question but here is some food for thought to help you determine whether independence is right for you.
By Barbara Herman – Roger has been a financial advisor for more than 20 years, the past 12 of which he has spent as an independent business owner with a broker dealer. In that time, he has built a thriving business as a sole practitioner with over $180mm in AUM. “I love what I do, my clients are happy, and I’m adding assets at a healthy rate of 25% per year,” Roger shared. When he attended his BD’s most recent national conference, he was reminded how much he likes and respects the leadership team and how good it feels to be one of the top advisors under their umbrella.
