By Wendy Leung – In this day and age of stratospheric wirehouse deals, why are so many uber-productive, high-quality teams forgoing a huge transition incentive check to make the move to independence? While we can all agree that independence offers more freedom, flexibility and control (and for those with true entrepreneurial DNA, that is something hard to put a price tag on), at the end of the day advisors need to understand the economics of independence before they can determine whether it is a viable option for their business.
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 Wendy Leung – Too often, advisors assume that all of the major wirehouses are the same and that moving from one to the next would be going from the proverbial frying pan into the fire. But, is that really the case?
By Wendy Leung – Taking the time to step back from the day-to-day demands of the business to assess personal and professional goals is a critical yet often overlooked exercise that can help financial advisors define and achieve their best business life. “But I still haven’t found what I’m looking for.”
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