This is a general transcript of a recent podcast episode (listen by clicking here) where I breakdown a few tools that I find useful as an independent financial advisor. There are a lot of options out there and the freedom to find what fits your practice best is another great benefit of being independent.
Miscellaneous
A great read from Josh Brown of TheReformedBroker.com on going independent
Miscellaneous1 CommentThis link is to a great post from last fall by Josh Brown---he of Twitter and CNBC fame. I can't add too much to the content itself, so I will just say---read it!
Below is the summary I pulled from the end of the article where Brown contrasts what should cause advisors to go independent....and what should not. It is as much about attitudes and beliefs as it is about money.
Why there is no reason to go indpendent all by yourself -- but what is an "OSJ?"
MiscellaneousCommentWhy I'd rather get paid one way instead of five
MiscellaneousCommentTrust, but verify.....looking into one firm's client retention claim
Miscellaneous3 CommentsI 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....
VIDEO: Independence does not mean isolated
MiscellaneousCommentIndependent Advisor Tools: Google Voice
Miscellaneous1 CommentI want to talk about one of my very favorite tools that I've used as an independent adviser, Google Voice. I had never heard of it before went independent. I came across it about a month in, after I made my transition. It was perfect for what I was looking for and I didn't even realize that I was looking for it.
Articles about how to start an independent financial advisor business
MiscellaneousCommentHere are some good write ups on setting an RIA-only practice (aka "fee only"). Actually, the last is a link to a long list of related blog posts. I have always enjoyed reading these types of articles, but I realized there wasn't an in depth resource for any option that includes a broker-dealer affiliation--even the hybrid RIA configuration, like I am currently in (or at least one written by someone who had "been there, done that" and was still in the field doing it). That's why I'm here...and hopefully why you are.