Financial professionals face many daily challenges. These challenges become even more daunting as independent advisors. One thing is for sure, the professional commitment to clients should never be compromised. Kella Financial brings together the resources and expertise that independent financial professionals can rely on to commit to the success of their business and clients.
The decision to become an “independent advisor” is more popular than ever, as financial professionals hope to achieve autonomy in running their own business, while receiving higher compensation payouts. More seasoned advisors, meanwhile, who have developed large books of business, also see an opportunity to break away from large firms to start their own business and create greater value for the books of business.
There are other factors driving the quest for independence for many advisers. Financial professionals recognize the enormous retirement opportunity, with a growing and increasingly wealthy senior client demographic, and the “baby boomer” client segment not far behind.
There are trillions of dollars moving out of 401(k) and other pension plans, with more rolling over during the next couple of decades. Accordingly, as more and more clients seek professional financial advice, there should be no shortage of prospective clients.
Determining the best route to independence is the key consideration for any adviser. Once independent, advisers quickly realize that running their own business requires them to spend more time focused on day-to-day administration and operations, and less on prospecting and servicing clients.
The increasing costs to remain compliant with increasing regulatory oversight can also weigh in the decision making process.
Kella Financial can assist in navigating through all the important factors and considerations of going independent, and recommend the best course of action.