Have you done a cursory analysis of the benefits of setting up your own practice? If you have, you probably compared your net payout now to your potential net payout on your own. While that is useful, there are also very intangible and unknowable benefits that can emerge with the flexibility of being a business owner. I talk about 6 of the big ones that have made an enormous benefit in my business and life.
When considering your options to go independent, you may also consider the economics of employee firm recruiting deals. In this episode, I'll suggest a framework for how to consider the spectrum of tradeoffs between payout and upfront money.
Many independent advisors brag about their 90% payout, but we all know that is not net. But how do you go about comparing your payout at an employee firm to what you might net in an independent business model? This episode gives you an overview of how to get started on that comparison.
In this episode, I'll talk about how your production payout as an independent financial advisor can differ from the employee advisor model. I'll also discuss the various expenses a indpendent financial advisor might incur that employee-advisor might not b