Monday, March 30, 2009
Should I Stay or Should I go?
With many advisors frustrated about the way management is running their franchises, more are starting to explore the independent channel.
It’s still too early to tell. But changing jobs is certainly top of mind these days. Indeed, a recent Registered Rep. survey of 1,459 advisors found that 63 percent might change firms in the next two years. In fact, one in four advisors said they are considering or would consider starting an independent advisory business.
There are many benefits to going solo. For starters, you are in control of your own destiny. You get to call the shots, you have more flexibility in how you run your business, you can potentially provide a lower cost structure to clients, and you may be able to make more money than you would as an employee of a firm.
When you work for a big company, “you have massive amounts of pressure to produce revenue,” said John Burns, founder and principal of Burns Advisory Group, a registered investment advisor in Oklahoma City. As a business owner, however, your clients’ interests come first, he said...
Registered Rep: Should I Stay or Should I go?
It’s still too early to tell. But changing jobs is certainly top of mind these days. Indeed, a recent Registered Rep. survey of 1,459 advisors found that 63 percent might change firms in the next two years. In fact, one in four advisors said they are considering or would consider starting an independent advisory business.
There are many benefits to going solo. For starters, you are in control of your own destiny. You get to call the shots, you have more flexibility in how you run your business, you can potentially provide a lower cost structure to clients, and you may be able to make more money than you would as an employee of a firm.
When you work for a big company, “you have massive amounts of pressure to produce revenue,” said John Burns, founder and principal of Burns Advisory Group, a registered investment advisor in Oklahoma City. As a business owner, however, your clients’ interests come first, he said...
Registered Rep: Should I Stay or Should I go?
Permalink posted by markw @ 5:25 AM 
 |
 |  |
  |
