Why Now Is The Time To Go Independent

  • Controlling Your Own Destiny
  • Endless Creative Possibilities 
  • Earning the Bigger Bucks

Making the move to independence might feel like a huge undertaking, and often times, it creates enough anxiety for advisors to put the idea on the backburner or bury it in their minds. However, the reality of the situation is that for the past 2 years, with work from home orders and the never-ending new variants of Covid-19, advisors have already experienced a greater share of the independent side of the business than ever before. On top of that, many advisors are liking what they are seeing and are eager to gain more independence and make that big move.

Fact is, there’s never been a better time to take your business into your own hands. Why? Because you’ve already gotten a taste of independence and shown resilience, but you didn’t receive all the great benefits and perks that come with being on your own. You should. Custodians, wirehouses and broker-dealers are seriously competing to gain new advisors and have put together some very creative offers and hybrid packages, many of which have amazing terms and/or frothy paydays. 

When opening your own RIA, it’s important to know the right steps to take to avoid pitfalls and mishaps, as well as the get the best deals. That’s where 3xEquity steps in. We act as your Transition Specialist and help provide guidance and support so you can make the right decision during the process of establishing your own business. Here’s a look at some of the benefits that come with going out on your own that you should be carefully considering:

 

Greater Control – If you go independent, your business is just that, yours. You get the final say on all aspects of the business. You have the power to hire your own staff, build an in-house research team, take on a junior advisor, or grow your client services team. 

Beyond the hiring decisions, owning your business comes with the power to decide what products and services you offer. You can pick and choose what you want your business to be known for and no longer have to be bogged down with meeting sales goals or selling products and services you don’t necessarily support. 

Independence represents total control over your business and the ability to take it in whatever direction you see fit. 3xEquity serves as your guide, helping you plan and execute a comprehensive approach to taking your vision to independence.

Solid Branding and Marketing Flexibility – It’s all about your brand. You’ve heard it over and over again and going independent means you have to build your brand strong. In our digital world, having an dynamic website and ongoing marketing is essential. Podcasts, social media, and daily blogs can be highly influential and go a long way in bringing recognition to a business. Once you go independent, you have the flexibility to take your branding and marketing efforts to the next level — the possibilities are endless. 

Making sure you have the assistance of a group that has helped thousands of advisors make the big move and can outline the core branding and marketing essentials you need will allow you to build the right foundations for your future growth efforts.

Compensation and Finances – No matter what your situation is, whether you’re already an RIA at a wirehouse or partnered with a broker-dealer, you work hard to best serve your clients. One of the biggest benefits of going independent is that the payday for the endless hours and energy you put into developing your practice and providing your clients with the best goes to you. You get to decide on how the firm compensates the team and what portion of proceeds gets invested into the operation and infrastructure.

Having a solid three to five-year business plan that accurately projects and details your financial outlook across compensation, overhead, and operational expenses is a must. Our team consults with you to ensure your plan is well founded and viable, so you can focus on keeping your clients happy and eager to make the move with you.  

Next Steps…

Talk to any advisor who has made the move to independence and chances are majority of them will say it was one of the best moves they made in their career. Now those that tried the DIY approach may have some tales of trials and tribulations, but that’s why having a specialist on your team is so important.

Fact is, our 2021 Financial Advisor Transition Survey Report shows that 88.8% of advisors reported having no regrets about making a move. What are you waiting for? It’s time take control of your career and your business and consider independence. 3xEquity is here to make it easy, standing by your side and guiding you through the entire transition process.

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Transition packages from top regional and national broker-dealers like LPL, Ameriprise, Wells Fargo, RBC, Cetera, Dynasty, UBS, and more.