The road to independence isn’t an easy one. And it’s not for the fainthearted. As July 4th approaches and we commemorate our nation’s 247th birthday, the rewards of independence are all around us. While we honor the men and women who bravely took the steps that led us here, it’s admittedly difficult to appreciate the circumstances they found themselves in… the worries that accompanied their struggle, the doubts that may have entered their minds, the fears that their bold idea would be met with derision or apathy.
Despite all this, they remained focused on the prize they were fighting for and emerged triumphant. We continue to reap the benefits of their efforts. Independence and the freedom it affords remains a driving force within the wealth management industry. According to a recent Cerulli report, on average, 71% of advisors surveyed had a preference for independent affiliation – including independent broker/dealer (IBD), hybrid RIA, and independent RIA affiliation – should they change firms.
The reasons wealth managers gravitate toward the independent model are well-known: the ability to build their business, their way; the potential to earn more income; better work-life balance; greater flexibility in supporting clients; and the capacity to build value and eventually monetize your life’s work.
It all comes down to controlling your own destiny. That is what drove the patriots of 1776 and it’s what continues to drive today’s entrepreneurial financial professional. Having the vision and tenacity to pursue independence is a great starting point. Leveraging the skills of a specialist to help you execute your plan can be the key to success.
George Washington had the Marquis de Lafayette; financial advisors should consider leveraging the knowledge of a transitional expert to streamline the process of going independent. Having recruiters and consultants possessing the relationships and industry expertise to help you make the move that’s right for you today, and over the long term, is imperative. It’s a big move … and there’s no need to go it alone.
Bridgemark Strategies’ advisor-centric approach to the science of evaluating and strategizing the next stage of your career is built upon 100+ years of collective experience. If you are considering making the move to independence, let us put it to work for you.
Contact us at 704-288-4008 or jeff@bridgemarkstrategies.com to find out more about our team, and how our comprehensive consulting guidance can help you on the road the independence. Reach out to us with any questions or to schedule a no-obligation consultation.
From creating your own RIA or hybrid RIA to joining an existing RIA or IBD, there are many available options. Let us help you consider all the possibilities and help you land in the best spot for you.