BECOMING INDEPENDENT - Summit Financial Networks
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How to Become an Independent Advisor

Why become independent? It’s a question that has been discussed among financial advisors at wirehouses and regional broker-dealers for years. Those who have gone independent say it’s the best thing they’ve ever done. The pressure to sell specific products and services no longer exists and you get an increased payout. Going independent also offers freedom to create and structure a business model that fits you and your clients, ultimately better serving you and them.

The independent advisor is free to choose the products best suited for their clients, not what the brokerage firm wants sold. Under the wirehouse model, it is not uncommon for advisors to sell products that are the most financially rewarding for the company. Of course, the advisors at these firms should understand there is an inherent conflict of interest. And despite this conflict, one would hope that they are acting in their clients’ best interests. But if anyone does suffer from this situation, it’s both the advisor and the client—not the firm.

One of the biggest concerns associated with forming an independent practice is the fear that if you change your broker-dealer, your clients will not move with you. Business has always been and will continue to be all about relationships. If an advisor goes out on his/her own, he/she hasn’t changed. It’s just the letterhead on the statement that’s changed. History shows 95 percent of clients will stay with you and you will get the opportunity for new clients as well.

For advisors wanting to leave a wirehouse or regional broker-dealer, Summit offers a platform that allows independent financial advisors to grow their practice the way they want to:

  • By taking control of their careers
  • Increasing their earnings at the same time

Offering the personal touch of a boutique firm coupled with the resources and services of one of the largest firms in the industry, Summit places service to its financial advisors above all else by treating them as clients. The Firm provides the support, services, products and leading-edge technology needed to build a successful business. As a Summit advisor, you enjoy the freedom and control of being independent while at the same time benefiting from what Summit believes is the best support structure in the business.

A significant plus for advisors wanting to leave the confinement of the larger wirehouses is that Summit is product neutral. Brokers are not pushed to sell any particular product. Equally important, Summit does not offer any proprietary products. As an advisor you have the finest products in the industry available to you and you get to decide which is best for your clients.

Are you ready to step out on your own and enjoy the freedom and control of being independent while at the same time benefiting from the best support structure in the business? If so, consider Summit. To learn more or to join the Summit team, call 800.354.5528 to speak with a Business Development Associate.