Do You See Independence in Your Future?
When it comes to going independent, the “why” is clear: nine out of ten breakaway advisors cited higher autonomy, higher payouts, and the ability to build enterprise value as their top factors in making their move.*
But beyond the “why” of independence, there are many questions to consider:
- What does independence actually look like?
- Which costly mistakes do you need to avoid when making the transition?
- Which affiliation model is the best fit for you?
- Which entrepreneurial skills will you need to develop to succeed?
- Can outsourcing help you create more time to serve your clients?
Are you trading your time for income, or building a legacy? We’ve put together a comprehensive guide to help you navigate your journey as an investment advisor, so you can weigh your options and make an informed decision.
Lack of Control is Driving Advisors Away from Wirehouses
The emotional component begins with the hunger to be a true entrepreneur coupled with the frustration that builds every time wirehouse management demonstrates just how little control their advisor employees have.
How Vanguard’s Advisor's Alpha Helps Advisors and Their Clients
Over more than two decades, Vanguard Advisor's Alpha® has shown how advisors can add value, or alpha, through relationship-based services such as financial planning, discipline, and guidance, rather than by trying to outperform the market. Vanguard’s Investment Advisory Research Center, led by Fran Kinniry, is charged with exploring how advisors provide value to investors.
This year has served as a harsh reminder of why so many investors seek a trusted advisor to navigate their financial journeys. During market declines, investor emotions easily crowd out wisdom and long-term thinking. However, through financial planning and behavioral coaching, advisors can help investors improve their chances of reaching their long-term financial goals.
Is Independence Right for You?
No one can choose the right career path for you because it all comes down to personal motivators. But that doesn't mean AssetMark can't help you get moving in the right direction. This guide helps you:
- Define Your Key Professional Motivators
- Consider Pros and Cons of Affiliate Models
- Understand Industry Trends for IAs
- Examine Support Options for Breaking Away
While some IAs want to understand how to break away toward forming an Independent RIA, others prefer to stay in a wirehouse or hybrid model. What’s right for you?
In this guide, discover how modern tools are changing the way advisors work and why independent RIAs are growing in popularity. Plus, check out our tip list on finding the right support system for your professional journey.
Breakaway Implications: The Impact Your Firm Partner Can Have on Efficiency
You may think that going independent means you’ll have less time for client interactions—after all, you’ll have an office to run. Well, that’s not true for breakaway advisors who partner with the right firm. A recent Cerulli Associates study breaks down how much time breakaway advisors save by partnering with Commonwealth. You’ll get stats such as:
- 58 percent more face-to-face time with clients
- 28 percent less time on compliance
- 29 percent less time on trading and rebalancing
Take control of how you spend your time. Are you ready to make an informed decision about your independence? Get started today.
Emerging Trends in the RIA Profession
Among financial advisors, 57% have reported spending a significant portion of their time discussing non-financial topics with clients. To retain clients, advisors need to provide a more connected and emotional financial experience to help clients achieve and sustain financial freedom. The role of an advisor is changing, and advisors should use technology for the more technical aspects of the job, to focus on the emotional, human-to-human connections. As advisors’ roles evolve, they face ongoing challenges of capacity and scale. To respond, they must be intentional about how they use their time, where they invest, and the new skills they develop. My guests will delve into this topic, and why it requires the right infrastructure to maintain capacity, and how advisors can use specialization, partnership, technology, and operations to gain capacity and grow.
The Five Competitive Forces Affecting RIA Profitability
The Harvard Business School’s Michael Porter is the leading authority on industry structure and competitiveness. His framework shows how RIAs should think strategically about the current state and future evolution of their industry.
Your First Marketing Campaign Under the New SEC Marketing Rule
It was 40 years in the making, but the deadline for the new SEC marketing rule is finally upon us. It introduces many exciting opportunities for financial advisors. It also brings tremendous uncertainty around how to best take advantage of the new regulations.
Advisor Perspectives Named Most Read E-Newsletter for Financial Advisors for Fourth Consecutive Year By Erdos & Morgan
This is Advisor Perspectives' fourth consecutive year of ranking ahead of The Wall Street Journal and Bloomberg among the e-newsletters listed, with 14% more readership across the 1,120 financial advisors surveyed. Advisor Perspectives also claimed the number one spot for e-newsletters among the independent registered investment advisor (RIA) segment.
The Future for Alternative Investing
CAIS is a truly open marketplace for alternative investments, where financial advisors and asset managers can engage and transact directly on a massive scale. Advisors do not have the same access to alternative investments as large institutions. Without that access, advisors have fewer tools to capitalize on opportunities or withstand market downturns. This unlevel playing field puts financial advisors at a meaningful disadvantage when building and protecting wealth. CAIS is aiming to change that.
How to Fix Our Failed Approach to Fiduciary Lobbying
Instead of focusing on the advantages fiduciary standards would provide to the profession, lobbyists who represent advisors should point to the catastrophic failures of the perverse incentives embedded in the brokerage business model.
The Next Frontier in Advisor Marketing and Client Service
The big trends in advisor marketing and client service are differentiation, specialization, and digitalization. In this podcast, Stephanie explains how they sit at the intersection in terms of what’s possible and how advisors operate today.
The Next Challenge Facing the Advisory Profession
Advisors won the last war – true professionals achieved victory by adopting fiduciary principles and providing comprehensive planning. But a new battlefront has emerged – what I call the “next argument” – and achieving victory will slow and painful.
I Cracked the SEO Code
I finally cracked the SEO code, but it wasn’t easy.
The Future of Financial Planning Advice, Part 2
I explain how attempts to view advisor compensation through a moral lens instead of an economics lens lead to false conclusions about the relative merits of each pricing model and hence to misguided predictions for the future of planner compensation.
Surprise and Delight Creates Clients for Life
One of the most effective ways to nurture client relationships, enhance customer loyalty, AND drive referrals is to implement a “Surprise & Delight” strategy. This frequently overlooked strategy gives clients a customized, memorable experience that makes them feel more appreciated and understood. If you’re ready to start surprising and delighting your clients but you’re unsure where to start, this is the webinar for you.
The Toughest Questions Advisors Will Get From Clients
Market volatility, inflation, and talk of a recession certainly has grabbed the headlines over the past few months. As financial planners, this is your chance to differentiate yourself as you walk your clients through turbulent times. My guests today form the leadership team for one of the country's most prominent planning firms, Integrated Financial Group (IFG), IFG consists of 60 teams of financial planners in 13 states. Founder and chief strategy officer, Don Patrick, and current CEO, Land Bridgers will share what their financial planners are doing right to help their clients navigate the headlines and the uncertainty of the economy. Focusing on financial planning is at the heart of this discussion, along with the conversations financial planners have had with their clients over the years to prepare for times such as this.
Is Your Marketing Honest? The 17-Point Test
I have a vision of a profession where the most straightforward advisors, not the coolest ones with the best spiel, rise to the top. To achieve that ideal, here are 17 ways that acting more honestly than the competition will win more clients.