The Move to Independence: Creating A Better Home For Clients And Advisors

A huge change has been occurring in the financial services industry over the past 10 years. Waves of financial advisors are leaving Wall Street institutions behind in order to pave their own way in the independent world.

What caused this to occur?

How does it better serve clients?

What resources are available to advisors that want to become independent?

There was a time when Wall Street firms were THE place to go when you wanted to place a trade. As investing became more accessible to the general public through 401(k)s and online brokerages, trading became a commodity. Comprehensive financial planning and advice became the valued service clients looked for. Trust was formed with the individual advisor rather than with the firm they worked for.  Since the Financial Crisis of 2008, the investment and banking worlds have merged, and large institutions have become multinational behemoths. Advisors now find themselves in the difficult position of having to balance client’s needs with the institution’s profits. Cross-selling bank products to investment clients are commonplace (through loans, credit cards, checking and savings accounts, etc.). Advisors are constantly pressured to succumb to the needs of the institution, even if it means putting their client’s best interests on the back burner.

When our team left the Wall Street firm behind in 2019, our clients appreciated the departure even more than we expected, knowing that we would always put their best interests first. We hand-selected our software package with nothing but our client’s needs in mind. We interviewed dozens of vendors and were able to put together a “dream team” of highly skilled professionals that allow us to focus on what’s most important. Lastly, the transition was easy, knowing that we built a future where our clients and advisors would be much better served.

If you’re an advisor looking for advice on going independent, get in touch with us:

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