3 reasons to go independent
3 reasons to go independent.
With John Furey, Principal & Founder, Advisor Growth Strategies
1. More control and flexibility.
The one thing advisors should know about transitioning to the RIA channel is really control and flexibility. If I was going to part one thing on you, the single biggest benefit, beyond financial, beyond great outcome for your client, is the ability to control your business and structure it in a way that you just feel fantastic getting up every day and going to work. And I think that gets really underestimated because it seems a little esoteric when you’re considering it, but every RIA owner that I’ve worked with that’s made the move has just raved about the outcome for them, their team, and their families.
2. Your clients want you to go independent.
When you look at the market of US household wealth and what channel it’s being serviced by, it’s been going in one direction, and it’s straight to the independent channel. So when you look at it and say, ‘Wow, investors have choice and that’s where they’re voting with their dollars, and advisors have choice and that’s where they’re voting with their dollars,’ and you look at larger teams and you read in papers, and they’re are voting with transitioning, wow, that just sets up for great momentum in the future for the RIA channel.
3. The economics.
We’re all human. What we bring home to our families is really important. And what I can tell you is there’s a lot of myth out there, there’s a lot of ‘perhaps it’s harder to run your business’ out there. But what I can tell you, and I can assure you, because we’ve helped larger teams, is the return on going independent is real.
Information as of November 16, 2017.
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