The second reason is you should not go independent if you can’t do what you think is best for your clients. So, if you have the type of business that have particular products and services that only a large bank can service or provide, maybe going independent isn't right for you.
This is a transcript of my talk with Joshua Sheats on his Radical Personal Finance podcast (click HERE to check out his podcast). Joshua and I discussed the independent model and the different ways to start a financial advisor practice. FYI....this transcript 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 10 (click HERE to check out that show) where I discuss the employee model and how it differs from the independent model. 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.
The first reason is a very obvious one. If you fit this one, you probably aren’t reading this. But if you do not want to, you don’t need to, and you like where you are and you see no reason to change, obviously would not want to go independent.
This is a transcript of HTGI podcast episode 11 (click HERE to check out that show) I did with Craig Cowles. 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 27 (click HERE to check out that show) I did with Linda Mills 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.
I recently wrote a post/series of posts (check out the first one by clicking here) about the things you absolutely need to setup your practice and get you through the first 90 days or so. I wanted to also write about some of the items I think you DON’T need to invest time and money on yet.
Last, but most importantly, you need CLIENTS to establish your own practice. I've put it last on purpose because the other things have to be in place before you pull the trigger to have your own practice.
You will need A PLACE TO WORK. Notice that I did not say “office.” As you may have heard in the podcast, I've had people that work remotely from home and meeting with clients wherever is the most convenient for clients.
You need a COMPUTER -- another obvious item, but I want to mention it anyway. You can decide if you want a desktop or a laptop, there's benefits and drawbacks to each. I won't go to that in detail -- in this form I might do another episode at some point on all the technology decisions there are to make and some of the pros and cons of each.