Quantcast

When It Makes Sense to Go Independent


Shutterstock photo
When It Makes Sense to Go Independent

Going independent has many upsides and downsides, but listing them as pros and cons is not particularly simple. Sure, there are higher payouts than at a wirehouse, but there is also more responsibility. In some sense, it depends on the stage of your career as an advisor as to whether going independent is the right choice. If you are senior, with your own book of high paying clients and your own office/branch, then going independent can make sense. You get higher payouts and you already have experience managing a team, and you have more product flexibility for clients. If you are younger, going independent can be more difficult since you likely need more help building your book, and don't have experience managing people or the overheads associated with running your own branch.

FINSUM : There does seem to be a "right time" to go independent. There are a lot of perks to doing so, but one does need to have a bit of an entrepreneurial slant as you truly are a business owner in such a scenario.

  • IBDs
  • independent
  • wirehouse
  • payouts

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: Investing , Wealth Management



More from FINSUM

Subscribe







Contributor:

FINSUM













Research Brokers before you trade

Want to trade FX?