• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
    • Moves in the News
  • Tools for Advisors
    • 2022 Advisor Transition Report
    • Merrill Information Hub
    • UBS Information Hub
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
      • Kelly Griffiths
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
  • Tools For Advisors
    • 2022 Advisor Transition Report
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

When More is More

Diamond Consultants Articles for Financial Advisors

When More is More

Posted by Barbara Herman

Why does a successful and happy independent advisor make a move?
(And it’s not about the money)

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.

Yet amidst the success and positivity, Roger, at heart an entrepreneur, wanted more. Last year, he began to see potential to grow through the acquisition of other practices.   When he approached his BD about what they could do to support these aspirations, he quickly realized that they didn’t have the expertise or the experience to guide him, nor were they likely to develop it any time soon. It simply wasn’t in their wheelhouse. “I would be on my own if I chose to go down this path.”

Roger’s strong entrepreneurial spirit won out over his feelings of contentment, and he began to evaluate the idea of launching an independent RIA. He briefly considered looking at another IBD but realized his business had outgrown that model, and the pool of potential sellers would be limited. His research revealed the advantages of joining a community of like-minded, entrepreneurial peers. “I discovered I could access the best wealth management and technology resources the industry has to offer, and gain the practice management and acquisition support I need to build a true enterprise with optimal value in the future. “ After months of due diligence and, at times, soul searching about what mattered most for clients and for his future, and about leaving a good thing, he made the leap. Roger’s only regret? “That I didn’t do it sooner.“

 

 

You may also be interested in...

Share
0

About Barbara Herman

Senior Vice President – Known for her sound advice, unique perspectives and ability to identify creative solutions. Barbara has developed deep and longstanding strategic relationships with financial services firms – from wirehouses to boutiques, as well as the diverse independent space – and works with some of the most sophisticated teams and individual advisors. Learn more...

    Subscribe for Updates

    Get updated by email when a new article is added.


    Listen. Here. Now

    Recent News & Articles

    • Everything You Need to Know About Independence: An Industry Update
    • Realistic Measures: Identifying What’s Portable and What’s Not
    • Why Merrill, Bucking Trend, Won’t Offer Independent Model for Advisors
    • Andy Sieg: A Candid One-on-One With the Leader of the Merrill Thundering Herd
    • Why Wealth Management is Goldman Sachs’ New ‘Crown Jewel’ with Dealmaking at a Standstill
    Schedule a Complimentary Consultation
    We're available to answer your questions. Contact us

    Connect with us

    Search

    © 2023 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

    • Leading Financial Advisor Recruiting Firm:
    • About
    • Services
    • FAQs
    • Articles
    • Podcast
    • News/Media
    • Tools/Resources
    • Contact
    • Our Locations
    • Privacy Policy
    • Site Map