Going Independent Section

Gain freedom, flexibility, and control over your practice

Going independent as a Registered Investment Advisor (RIA) can help you shape a career—and a legacy—aligned with your values. Now, more than ever, may be the best time to plan for your future as an independent RIA. Whether you're ready to make a change or just looking to explore your options, we're ready to help.

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The benefits of becoming an RIA

The ability to better serve clients is the number one reason advisors make the move to independence1—but it's not the only one. Autonomy and income potential can be highly motivating to advisors who want to build a legacy, while industry growth and emerging opportunities make the RIA model attractive to the ambitious and the bold.

Client service

Of advisors who recently transitioned, 98% did so because they wanted the freedom to do what's best for their clients.2

Autonomy

The desire for autonomy is a leading pull toward the independent RIA model. Independent investment advisors have more influence over business decisions, such as compensation structures and technology platforms.

Income potential

Most advisors report greater AUM after going independent.3 Working as an independent advisor can give you more control over fees and expenses, allowing you to build equity as your firm grows.

Industry growth

Advisor-managed assets for independent RIAs grew by 17.5% year over year between 2013 and 2023.4 Alongside this growth comes an ecosystem of tailored support to help RIAs thrive, as well as opportunities for inorganic acquisition.

Personalized support

As an independent RIA, you have the freedom to go the extra mile for your clients—and they can tell when you do. Nearly three-quarters (74%) of advisors say they're able to build better, longer-term relationships with their clients after going independent.5

Opportunities to meet emerging needs

Give your clients the services they crave while driving your firm's growth. Independent RIAs are moving beyond portfolio management to offer in-demand services like tax and estate planning.6

The independent RIA life: Unscripted

What's going independent really like?

Two advisors discuss the paths they took.

Eric Rosel

Founding Partner

Morgan Rosel Wealth Management

ERIC ROSEL: So, Sarah, it's in your mind, you made the decision, you're moving. So talk to me about the process you went through to decide where your clients' assets were going to be, how you were going to manage your trading, your compliance, things like that. So what was the due diligence process like and how difficult was it?

Sarah Keys, J.D.

Founding Partner

Cardan Capital Partners

SARAH KEYS: Right. Well, to be totally frank about it, we actually didn't make the decision until we decided on the route because we wanted to have confidence that our quality of resources, what we had access to, would not be sacrificed, that we would still be able to deliver the same level of service that our clients had been accustomed to and that we took a lot of pride in delivering. And so we spent about two years talking with other broker-dealers, looking at hybrid solutions and then looking at the various independent routes, whether it was through like an independent branch through a broker-dealer or just totally independent. And once we really felt solid, and, in the fact, and it did… took two years, that by going the independent route and utilizing Schwab as our custodian, that we were going to be solid. Our clients were going to be solid. Everybody was going to be well taken care of, and we didn't need to worry about what resources we were going to have access to. And it's played out beautifully.

How about you? What was your process like?

ERIC: Well, like you, I think the most important thing and fear in our mind was what's the client's perception going to be? So, for us, we wanted to make sure that we partnered with, of course, the biggest and the best, but we also wanted to partner with someone who is perceived in the eyes of the public as someone who is fighting for the client. So, like you, going through the due diligence, we wanted first and foremost to have someone that had our client's interests first. So, obviously, there's some big boys that come to mind, but at the end of the day, Schwab was the clear leader in our regard. So, you know, once we had that decision made, as you mentioned, the resources that they're able to bring to us to help put the other pieces together was there.

SARAH: Were you always going to go totally independent…

ERIC: Yes.

SARAH: ...or did you look at any of the hybrid options?

ERIC: Well, we did look at all of the other options, the hybrid models, whatever it may be. But, for us, at the end of the day, we felt that we wanted to chart our own path, from the compliance all the way down. We wanted to be the one that said, yes, this marketing is approved in the best interests of our clients, not someone else who, who knows what's going to happen or change at the leadership of their company…

SARAH: Right.

ERIC: …what compliance officer do they bring in. We know we have our clients' best interests at heart. No one knows more what our clients need than us, right? That's why we chose to go that path.

SARAH: Yep. I would agree with that.

ERIC: I'm sure you probably found that, as well.

SARAH: Yep. Yep. There were moments that felt scary, but, yeah, looking back on it now, it was… you know, it was just the natural nerves that you would have, I think, going through such a big change.

ERIC: That's right.

SARAH: But, yeah.

ERIC: No different than other major milestones, I guess, in your life, right?

SARAH: Exactly. Yep.

ERIC: You just go to do it.

Serve your clients on your terms

What would you do differently if you could create the client experience you want? Investment advisors Eric Rosel and Sarah Keys share what they love most about creating their own client experience in the independent RIA model.

Watch more advisor stories

See what it's like inside the RIA industry

Make an informed decision about independence with exclusive insights from Schwab. Our white papers provide well-researched perspectives to give you a better sense of the RIA business landscape.

Exploring Independence

There are more benefits to becoming an RIA than ever before. Be sure you're in the know.

Read the white paper

Mastering the Moment

Learn why the next great firm will be an RIA—and how you can join the growing independence movement.

Read the white paper

Forward Momentum

Choosing independence can help further your career, especially when transitioning as part of an elite team.

Read the white paper

Put your clients first with flexible, industry-leading technology

As an independent advisor, you have the freedom to select the best products for your clients. Schwab's technology platform can help you meet their needs by combining advanced proprietary tools such as iRebal® and thinkpipes® with top-tier third-party products.

Explore technology and resources

Advisor case studies: Success on their terms

These advisors made the decision to go independent—and never looked back. Learn how the independent RIA model has helped change their lives for the better.

HANK McLARTY:  Being independent has changed my view of success. It's changed my view of what living really means.

Having the impact that we have, that's a great feeling. Building a culture at Gratis Capital. Building a team that is as passionate about taking care of clients as I am, it's a great feeling to see that.

And the services that Schwab provides for us give us all the things that a client might miss from being from a Wall Street firm. But the ability to be creative and provide cutting edge advice, and it be current, and pull in experts and professionals to collaborate on a client's behalf gives us the ability to provide them independent advice. So it's kind of the best of both worlds.

Now, with this firm, we are helping clients achieve levels of success by allowing them to live their life. And so the culture that we've built here is very synergistic with what we are preaching to our clients, and that is we work very hard here, but success is not driven by just the revenues that our firm generates. It's by us having a policy of people being at home with their families, and not always focused on hours here at work.

The thing that I most enjoy about being a father is watching my sons develop. And I haven't just watched them. I've been in the middle of it with them. An awful lot of the decisions that they make today are a direct result of discussions we've had, of them watching what I do, and how I handle situations. And the fact that they're becoming awesome young men is a joy for me to watch and be a part of.

Certainly when my sons were born, it changed my focus, and that's when I got involved with Make-A-Wish, the charity that I work with. I met a couple of the kids that we were granting wishes for, and then that, of course, that was it after that.

Today, when I leave work, and I'm on my way home, and just in the car and thinking about what we're doing for clients, I get a very good feeling about the way that we're adding to their lives, the way that we're taking care of these clients. It's something that I'm proud to tell my sons about what I do at work every day.

 

Disclosures

Hank McLarty is a client of Schwab and was not compensated for their comments. The experience described may not be the experience of all clients and is not a guarantee of future performance or success.

Information included in this video is intended to be an overview and is subject to change.

The above-mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Third party trademarks are the property of their respective owners and used with permission. Third party firms and their employees are not affiliated with or an employee of Schwab.

Schwab does not provide legal, regulatory, tax or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2024 Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.
Video Transcript

Doing business their way: Gratus Capital

HANK McLARTY:  Being independent has changed my view of success. It's changed my view of what living really means.

Having the impact that we have, that's a great feeling. Building a culture at Gratis Capital. Building a team that is as passionate about taking care of clients as I am, it's a great feeling to see that.

And the services that Schwab provides for us give us all the things that a client might miss from being from a Wall Street firm. But the ability to be creative and provide cutting edge advice, and it be current, and pull in experts and professionals to collaborate on a client's behalf gives us the ability to provide them independent advice. So it's kind of the best of both worlds.

Now, with this firm, we are helping clients achieve levels of success by allowing them to live their life. And so the culture that we've built here is very synergistic with what we are preaching to our clients, and that is we work very hard here, but success is not driven by just the revenues that our firm generates. It's by us having a policy of people being at home with their families, and not always focused on hours here at work.

The thing that I most enjoy about being a father is watching my sons develop. And I haven't just watched them. I've been in the middle of it with them. An awful lot of the decisions that they make today are a direct result of discussions we've had, of them watching what I do, and how I handle situations. And the fact that they're becoming awesome young men is a joy for me to watch and be a part of.

Certainly when my sons were born, it changed my focus, and that's when I got involved with Make-A-Wish, the charity that I work with. I met a couple of the kids that we were granting wishes for, and then that, of course, that was it after that.

Today, when I leave work, and I'm on my way home, and just in the car and thinking about what we're doing for clients, I get a very good feeling about the way that we're adding to their lives, the way that we're taking care of these clients. It's something that I'm proud to tell my sons about what I do at work every day.

 

Disclosures

Hank McLarty is a client of Schwab and was not compensated for their comments. The experience described may not be the experience of all clients and is not a guarantee of future performance or success.

Information included in this video is intended to be an overview and is subject to change.

The above-mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Third party trademarks are the property of their respective owners and used with permission. Third party firms and their employees are not affiliated with or an employee of Schwab.

Schwab does not provide legal, regulatory, tax or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2024 Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.

Doing business their way: Gratus Capital

ROBERT AMATO:  No matter how high up you are in these larger broker-dealer firms, you're still an employee. And the RIA space was compelling to us because we felt like we were building something, we owned it, and we controlled everything within that space.

BEAU DAVIS:  Robert and I have always had a mindset that, you know, this is the way we want to do things. And now that we're owners, we don't have all the blocks, and walls, and things in the way, and other advisors, and opinions, and… I call it noise.

ROBERT:  We came to the conclusion that setting up as a registered investment advisor on Schwab as a custodian was absolutely going to work out the best for us and for our clients.

BEAU:  But one of the things we wanted to make sure, that if another 2008 happened again, that the one thing our clients weren't going to worry about was whether or not the custodian or the company that was holding their funds was going to be okay or not. And we knew with Charles Schwab, we knew they didn't receive any money from Uncle Sam, and they didn't need any money from Uncle Sam to stay in business.

And we wanted to make sure we're in a position to really do the best for our clients with the least amount of distractions. I'm not near as stressed like I was several years ago. I have more time to coach my kids. I probably wouldn't have been able to do that, you know, at my old firm.

ROBERT:  I've got young kids, so that's the majority of it these days. You know, they're only going to be so tiny for so long.

I always go back to antique car restoration, you know, having time to do the things I really want to do. It's a very long, methodical process, but at the end you get a beautiful reward.

BEAU: Yeah, I think helping people feels good, right? Giving back, it's a good thing. And, you know, the reward is, is knowing that you're giving folks an approach to get them through retirement, you know, when they refer other potential clients to you. I don't know how you quantify that, but there's a peacefulness about that. I mean, it's a good thing. It feels good.


[DISCLOSURES]
Robert Amato and Beau Davis are clients of Schwab and were not compensated for their comments. The experience described may not be the experience of all clients and is not a guarantee of future performance or success.

Information included in this video is intended to be an overview and is subject to change.

The above-mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Third party trademarks are the property of their respective owners and used with permission. Third party firms and their employees are not affiliated with or an employee of Schwab.

Schwab does not provide legal, regulatory, tax or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2024 Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.
Video Transcript

Taking ownership: Compass Wealth Management

ROBERT AMATO:  No matter how high up you are in these larger broker-dealer firms, you're still an employee. And the RIA space was compelling to us because we felt like we were building something, we owned it, and we controlled everything within that space.

BEAU DAVIS:  Robert and I have always had a mindset that, you know, this is the way we want to do things. And now that we're owners, we don't have all the blocks, and walls, and things in the way, and other advisors, and opinions, and… I call it noise.

ROBERT:  We came to the conclusion that setting up as a registered investment advisor on Schwab as a custodian was absolutely going to work out the best for us and for our clients.

BEAU:  But one of the things we wanted to make sure, that if another 2008 happened again, that the one thing our clients weren't going to worry about was whether or not the custodian or the company that was holding their funds was going to be okay or not. And we knew with Charles Schwab, we knew they didn't receive any money from Uncle Sam, and they didn't need any money from Uncle Sam to stay in business.

And we wanted to make sure we're in a position to really do the best for our clients with the least amount of distractions. I'm not near as stressed like I was several years ago. I have more time to coach my kids. I probably wouldn't have been able to do that, you know, at my old firm.

ROBERT:  I've got young kids, so that's the majority of it these days. You know, they're only going to be so tiny for so long.

I always go back to antique car restoration, you know, having time to do the things I really want to do. It's a very long, methodical process, but at the end you get a beautiful reward.

BEAU: Yeah, I think helping people feels good, right? Giving back, it's a good thing. And, you know, the reward is, is knowing that you're giving folks an approach to get them through retirement, you know, when they refer other potential clients to you. I don't know how you quantify that, but there's a peacefulness about that. I mean, it's a good thing. It feels good.


[DISCLOSURES]
Robert Amato and Beau Davis are clients of Schwab and were not compensated for their comments. The experience described may not be the experience of all clients and is not a guarantee of future performance or success.

Information included in this video is intended to be an overview and is subject to change.

The above-mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Third party trademarks are the property of their respective owners and used with permission. Third party firms and their employees are not affiliated with or an employee of Schwab.

Schwab does not provide legal, regulatory, tax or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2024 Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.

Taking ownership: Compass Wealth Management

ROSS SINGLETARY: Probably the first business book I ever read, interestingly, was How to Be Your Own Stockbroker, by Charles Schwab.

My wife's father started his own business when he was in his late twenties, and I always admired what he had done, but I admired the freedom that he had. I thought it would be very rewarding and fantastic to be an owner and a founder of a business. It's just incredibly rewarding and gratifying, and I firmly believe it's a better way to do business.

Freedom was a big part of driving this decision. We believed in the RIA model, and we really feel like it put us on the same side of the table with the client, and we are just unequivocally in a much better position to do that as being part of our own firm, without question.

We're not worried about face time in the office in front of management because we are the management, and we don't have to report to anyone. And we don't have to worry about a manager in some far-flung office who really doesn't understand at the core what we're doing in our business with clients. So we're immune from that, which is incredibly rewarding. You can't put a price on that.

It makes for a more enriching environment to work in when you like everybody you work with, and I would include everybody in our firm, people that we like to go to lunch with, people that we like to have a drink with after work, play golf with, socialize with. We've been very lucky in that regard, so it just makes it a lot more fun.

I hope what my children and my partners' children took from what we did is that just follow your dreams, and pursue them wholeheartedly, even if it's a risky thing to do. And if you do, I think it can be incredibly rewarding and successful.


[DISCLOSURES]
Ross Singletary is a client of Schwab and was not compensated for their comments. The experience described may not be the experience of all clients and is not a guarantee of future performance or success.

Information included in this video is intended to be an overview and is subject to change.

The above-mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Third party trademarks are the property of their respective owners and used with permission. Third party firms and their employees are not affiliated with or an employee of Schwab.

Schwab does not provide legal, regulatory, tax or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2024 Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.
Video Transcript

The rewards of freedom: Arcus Capital Partners

ROSS SINGLETARY: Probably the first business book I ever read, interestingly, was How to Be Your Own Stockbroker, by Charles Schwab.

My wife's father started his own business when he was in his late twenties, and I always admired what he had done, but I admired the freedom that he had. I thought it would be very rewarding and fantastic to be an owner and a founder of a business. It's just incredibly rewarding and gratifying, and I firmly believe it's a better way to do business.

Freedom was a big part of driving this decision. We believed in the RIA model, and we really feel like it put us on the same side of the table with the client, and we are just unequivocally in a much better position to do that as being part of our own firm, without question.

We're not worried about face time in the office in front of management because we are the management, and we don't have to report to anyone. And we don't have to worry about a manager in some far-flung office who really doesn't understand at the core what we're doing in our business with clients. So we're immune from that, which is incredibly rewarding. You can't put a price on that.

It makes for a more enriching environment to work in when you like everybody you work with, and I would include everybody in our firm, people that we like to go to lunch with, people that we like to have a drink with after work, play golf with, socialize with. We've been very lucky in that regard, so it just makes it a lot more fun.

I hope what my children and my partners' children took from what we did is that just follow your dreams, and pursue them wholeheartedly, even if it's a risky thing to do. And if you do, I think it can be incredibly rewarding and successful.


[DISCLOSURES]
Ross Singletary is a client of Schwab and was not compensated for their comments. The experience described may not be the experience of all clients and is not a guarantee of future performance or success.

Information included in this video is intended to be an overview and is subject to change.

The above-mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Third party trademarks are the property of their respective owners and used with permission. Third party firms and their employees are not affiliated with or an employee of Schwab.

Schwab does not provide legal, regulatory, tax or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

©2024 Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.

The rewards of freedom: Arcus Capital Partners

Keep exploring RIA resources from Schwab

As a leader in the RIA industry, we offer support and expertise to help you go independent with confidence. Learn how we help you stay in control of every step of your transition.

Want to learn more about the advantages of the RIA model?

Reach out to a Schwab Business Development Officer. Kick-start your journey to independence with a confidential conversation about your unique circumstances, and learn how Schwab can help you reap the benefits of becoming an independent RIA.

Contact us
reii
genlp
(0725-BK1D)

1. Supported Independence Study, Schwab Advisor Services, May 2024.

2. See note 1.

3. See note 1.

4. The Cerulli Report—U.S. Intermediary Distribution 2024: Maximize Product Distribution Through Financial Advisors, Exhibit 2.07, Cerulli Associates, 2024.

5. See note 1.

6. See note 1.

Experiences expressed are no guarantee of future performance or success and may not be representative of experience.

iRebal® is a technology offering of Schwab.

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Third-party firms and their employees are not affiliated with or employed by Schwab. Their mention should not be construed as a recommendation, endorsement, or sponsorship by Schwab. The views expressed are those of the third parties and are provided for informational purposes only. The experiences shared are no guarantee of future performance or success and may not be representative of you or your experience. Third-party trademarks are the property of their respective owners and used with their permission.

Schwab does not provide investment planning, legal, regulatory, tax, or compliance advice. Consult professionals in these fields to address your specific circumstances.

Schwab Advisor Services™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM"). Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

© 2025 Charles Schwab & Co., Inc. ("Schwab") All rights reserved. Member SIPC.