Solo practices are NOT dying

October 22, 2015Sean KernanComment

This is a great rundown of the economics of the independent solo advisor business model. While this is focused on RIAs, I see the same thing anecdotally in the independent b/d rep/hybrid space...

Independent Advisor Tools: Google Voice

October 20, 2015MiscellaneousSean Kernan1 Comment

I 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.

A former wholesaler talks about his path to independence

October 12, 2015Sean KernanComment

I talked to Chad Atkins, a former wholesaler who became a financial advisor in 2009, not too long after the bottom of the market. He has had a lot of success with his own practice, building it up with two co-acquisitions in the past few years.

Articles about how to start an independent financial advisor business

October 12, 2015MiscellaneousSean KernanComment

Here 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.

What Will My Payout Be if I Go Independent?

October 9, 2015Sean Kernan1 Comment

That’s the million dollar question - sometimes more - over a lifetime.

Payout is a huge factor in our business, and a number we think we all know as an employee at a big firm. But when you're an independent financial advisor, there are a lot more moving parts and it can be complicated to calculate.

A deeper look into my path to independence

October 6, 2015TransitionsSean KernanComment

I look forward to sharing my insights and knowledge on how to take your investment or financial planning practice from an employee model to an independent model.

I’ve been excited to start this project and I hope it will be helpful and educational for you.

I want to give you a little background on why I decided to start this business and why I'm qualified to provide useful, and hopefully somewhat interesting information, if you’re curious about the other side of our business.

Setting Up A Practice Continuity Plan -- A Beneficiary For Your Business

September 15, 2015Sean KernanComment

I interviewed one of my business partners about why we think a business continuity plan is so important. That is, make sure if something happens to you, your clients are taken care of and your spouse/family gets the most value for what you've built

Will My Clients Come With Me?

September 14, 2015TransitionsSean KernanComment

When thinking about going independent, the biggest concern most advisors have is whether or not their clients will come with them. There are many factors that affect the decision a client will make, but you do have control of some of them.

When is the best time to go independent?

September 3, 2015TransitionsSean KernanComment

Changing firms and setting up your own practice when everything is steady and life is good can seem to violate the maxim, "if it ain't broke, don't fix it."

However, I believe times of relative calm can be precisely the ideal time to execute a change if you are well-prepared.

My Journey to Independence

September 3, 2015TransitionsSean KernanComment

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.

The HTGI Podcast

About Me

I help financial advisors who are currently employees explore information about independent business models. This site allows you to do so on your own time, in your own space, with unquestioned privacy. I am trying to build a resource that I would have loved to find when I was educating myself during the 7 years before establishing my practice.