As a Managing Director at Northwestern Mutual, Brett Gilliland had a unique perspective of the limitations at the firm. So after 13 years and with $300mm in AUM, he left to build Visionary Wealth Advisors, today a $1.8B firm.
One of the major motivations for advisors who choose independence is to build an enterprise via recruitment and M&A. But inorganic growth opportunities are not exclusive to independent firms. Although more limited, wirehouse advisors have options too.
Andy Schwartz went from selling insurance at Northwestern Mutual to managing $3.5B in assets and leading one of the firm’s largest groups. In 2014 they left to go independent as Bleakley Financial Group, now managing $8B in assets as a hybrid RIA.
Changing firms or models comes with some risk, one of the most critical being client portability. It was a risk that this 26-year UBS veteran and his $530mm team found was worth taking to better serve their clients without conflict and limitations. Guest Steven Tenney, Founding Partner and CEO, Great Diamond Partners.
If you’re at a wirehouse or independent broker dealer, compliance is managed for you. But what if you want to launch your own RIA firm? Chris Winn of AdvisorAssist makes the topic less daunting in this conversation that dives into policy setting, how risk differs as an RIA, the relationship to workflow management, a changing regulatory environment and more.
By Mindy Diamond, Forbes.com – While many advisors are drawn to the freedom and control that independence offers, there are those for whom it may not be the “right” path.
While comfortable at UBS a decade ago, Ahmie Baum started to see things a bit differently when his son Brian joined the business. It was an awakening that made this wirehouse veteran reevaluate everything, and propelled his leap to independence.
First Republic Private Wealth Management grew from $14.5B in AUM to more than $190B in the past decade. President Bob Thornton discusses what’s driving this remarkable success and making it one of the most attractive destinations for top advisors.
In a wealth management landscape with more options for financial advisors than ever before, the need for a “strategic” due diligence process has become imperative. Mindy Diamond and Louis Diamond present 10 tips to guide the exploration journey.
Attorney Tom Lewis of Stevens & Lee shares advice for financial advisors on navigating transition, avoiding termination, Protocol vs non-Protocol moves, and what you need to know before signing a binding retire-in-place agreement with your firm.
Subscribe for Updates
Get updated by email when a new article is added.
Recent News & Articles
- Last Call: Recruiters Prep for Finra-Induced Holiday Hiring Lull
- UBS Holds Line on 2023 Advisor Compensation: Memo
- Steward Partners Revisited: Jim Gold Offers an Insider’s Perspective on Why Supported Independence is Thriving
- 6 Factors That Trap Advisors in Indecision Mode
- Happy Again: How a $440mm Merrill Team Got Their Mojo Back in Independence