This is a transcript of HTGI podcast episode 9 (click HERE to check out that show) I did with Brian Ruff. It has not been edited to a final draft quality, so please excuse any hard-to-follow passages. You can also listen to the show using the media player to the right or below if on mobile.
This is part two of an interview I did recently with an advisor currently in the transition process. He built a successful practice and decided to make the leap to independence despite being a "one firm for life" advisor early on. I've changed his name in the article to protect his identity. You can read the first part of the interview by clicking HERE
Number three I listed was, if you’re looking for the biggest amount of money in your bank on day one that you go independent -- so the upfront check. I did an episode about comparing going independent versus taking the check proverbially.
This is a transcript of HTGI podcast episode 14 (click HERE to check out that show) I did with Matt Sonnen. It has not been edited to a final draft quality, so please excuse any hard-to-follow passages. You can also listen to the show using the media player to the right or below if on mobile.
This is a transcript of HTGI podcast episode 23 (click HERE to check out that show) I did with Ashley Hodge. It has not been edited to a final draft quality, so please excuse any hard-to-follow passages. You can also listen to the show using the media player to the right.
This website is called How To Go Independent. The natural question that I probably should follow that is what does that actually mean? What does it mean to “be independent?”
After six and a half years of having my own practice, and about six years before that pondering having my own practice, I have an understanding in my own head and with the people I talk to regularly what independent means. But a couple things have come up in the last week that have reminded me that anytime you're trying to communicate something that you're very familiar with, you need to do the best to start at the beginning.
One of my favorite inside jokes about a firm I used to work for is that they would tell us that "we pay you FIVE ways!" And it was (and I think, still is) true that there were multiple components of the total compensation....
A few weeks ago, I interviewed Matt Sonnen, founder of PFI Advisors, a consulting firm that assists large advisor teams (most over a billion in revenue) breakaway from wirehouse firms and go independent. PFI released it's first white paper this week that discusses using a pure consulting approach versus giving up equity in your firm or some sort of revenue-sharing model.
I wanted to share my thoughts on the very popular article that stated Merrill Lynch retains 40%-50% of client assets after an advisor leaves the firm. I think it applies to many advisors thinking about leaving a wirehouse for independence.
First of all, trust, but verify....That phrase, popularized by President Ronald Reagan, is very applicable when determining....
Six years ago today, I established my own independent financial advisory practice. It was the culmination of seven years of building a client base at big firms, learning about various business models, and planning for the move. It was probably inevitable that I would end up with my own practice once I learned that the independent model existed.
I am very grateful for the autonomy to run my business the best way I see fit for my clients and my family. For me, "Going Independent" has easily been the best professional decision I have ever made.