We started seeing the trend in 2017 when more than one-third of wirehouse advisors say they would prefer to join the independent channel should they decide to leave their current firm. Source: Cerulli Associates report

In 2019 the MBO Partners State of Independence in America Report found that 69 percent said being an independent worker is better for their health.

Last year, the TD Ameritrade Institutional Break Away to Independence Spring 2020 Survey found that 40% of brokers reported being “more likely” now than six months ago to break away and go independent.

The above data support the idea that there are many advantages of becoming an independent financial advisor to experience tremendous success. Locally, the top three reasons our advisors choose the independent path include:

1. Greater control to build your business the way you want

  • Your vision, executed by you and your team
  • Build your business precisely the way you envisioned it

2. Flexibility to better serve your clients

  • Each client is unique. Independent advisors have the flexibility to find the best products for their clients’ needs.

3. Comprehensive compensation structure and true ownership of your business

  • Keeping 30% and giving away 70% is the old way of doing business.
  • Keep more of what you build.
  • Independent advisors own the client relationships they have built.

Of course, being an independent advisor also comes with challenges. One of those challenges is running the business without the support and resources of a large firm. As an independent financial advisor, you will find yourself wearing multiple hats such as accounting, human resources, or marketing.

Visio Wealth Partners can help bridge that gap in resources.

“We created Visio Wealth Partners to provide a unique offering full of opportunities and support for independent financial advisors,” says David R. LaBricciosa, President and CEO of Visio Wealth Partners. “Many of the financial advisors who chose to work with Visio have faced challenges in placing new business, generating new business, or felt unsupported in their current environment. Becoming a part of an independent marketing organization, you won’t be in it alone.”

To learn more about the many options available for those demanding independence in providing planning solutions, click here.