The RIA model: Support, collaboration, and community

In a world of commissions and sales quotas, many broker-dealer advisors feel they're playing a winner-take-all game. But advisors who explore the independent RIA model find a different vibe.

There's a sense of community and collaboration among RIAs. Independent RIAs often like to trade ideas and learn from each other. Why? They believe in a bigger mission—that every investor deserves a financial advisor who puts their interests first, and that changing the advice industry is only possible if they work together.

Meet four advisors who found that, by going independent with Schwab, they gained access to a network of peers and resources that help them be their best—for themselves and their clients.

Community counts

When Todd Resnick, cofounder of OneSeven, started wondering what was possible beyond the wirehouse model, he realized a big piece of what he was missing was a sense of community.

"The focus for us, from the day we started the firm, was creating this connection amongst advisors," Resnick says. "Creating an environment where they actually look to help one another, and they look to find ways to collaborate."

Casey Witters, president and CEO of Optimize Financial, also found there was a team spirit among independent advisors. "With IMPACT [Schwab's annual advisor conference], and events like that, I love the camaraderie...I love to be able to talk through things, to learn, to get feedback, to find out what other people are doing."

This sense that RIAs are all pulling in the same direction is strong. They're drawn together by a common cause—to help clients and each other—and feel that they've found their people in the RIA community.

"We, as independent advisors, just want to help people," says Natalie Pine, managing partner at Briaud Financial Advisors. "We support each other so that everybody gets as much help as they possibly can."

A culture of collaboration

Witters was nervous about going independent before she made the leap. She had never owned her own business. It felt risky. Fortunately, she wasn't alone.

"If you don't have that [nervousness], then you're not making a worthwhile decision," says Witters. "Speaking to independent advisors who'd made the jump and just how wonderful it had been to them is always super helpful."

Malcolm Ethridge, founder of Capital Area Planning Group, says there isn't "zero sum thinking" among independent advisors. "If one of us wins, we all win, because it's great for the industry as a whole," he says. Ethridge has found that his relationship manager at Schwab is a great resource for connecting him to other advisors and he especially enjoys talking to advisors considering a transition.

How Schwab helps fuel RIA momentum

For Resnick, hearing about the RIA model for the first time was a life-changing experience. "It was just like fireworks. We realized that this is the way that we got to be different. This is the way we got to create something unique and special," he recalls.

Schwab has helped more advisors move to the independent RIA model than any other custodian.² With Schwab, you can define your ideal path and access the consulting and technology you need to build the right firm for you.

"Schwab as a firm is always evolving," says Ethridge. "They're always looking for ways to help us as an industry move forward and offer solutions to our clients that really matter."

And the support doesn't end at onboarding—Schwab is here to support you even after you make the move through actionable business programs and education and advisor events like IMPACT, the industry's largest gathering of independent advisors and RIA service providers.

This attention to detail and commitment to advisor success are why advisors on the move often call Schwab first.

"Schwab wants us...to continue to grow and succeed," says Witters. "Even to this day, they are checking in on us and just excited about where the firm's going."

What you can do next

• Want to learn more about the potential advantages of the RIA model? Schwab can help.
• Get next-level clarity and momentum to help fast-track your growth as an independent advisor. Explore how the Schwab Advisor ProDirect^™ fee-based membership program can help fuel your next move—and every step after that.
• Consider a custodian that is invested in your success. Contact us to learn more about the potential benefits of a Schwab custodial relationship.