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The Misconceptions of Independence- Volume 6

“Independence is lonely.”


October 2016

Erik Mora

“Independence is lonely.”




I know this statement may make you chuckle. The reality is this is a very common thought for many of my old clients and friends in the wirehouse. As I have mentioned, I meet with many of them regularly for lunch or coffee. This normally comes up as they ask me how I am doing and ask, “Is it lonely?” I normally laugh and ask what they mean. The next statement sounds something like this: “Now that you work at an independent firm, isn’t it lonely? Who do you talk to all day in the office? I don’t know if I could ever handle being independent because I like having people around in the branch.”

This “misconception” may not seem as serious as prior misconceptions, yet it is still very important to address. If you think this is a truth, it may be the one thing holding you back from truly considering independence. First off, I completely understand the thought process. If you have spent the last twenty years working around a lot of people, then the idea of one day finding yourself sitting in a one-person office can sound scary or less than ideal. The good news is you have nothing to fear. Independence is what you want it to be. You get to control your experience. If you don’t like the “branch” environment, you can open an office for only you and your team. If you like the comradery, idea sharing, and having others around, you can find that solution as well. Freedom Partners can help you open your office or insert you in an established firm where you share space with other advisors.

Here are a few other things to help you realize you are not alone.  There are approximately 15,800 independent RIA’s registered with the SEC. That number does not include a large number of advisors registered with Independent Broker Dealers. Schwab serves more than 7500 firms and Schwab Advisor Services custodies $1.2T in assets. There are training and idea forums all over that you can be part of. One example is Schwab IMPACT. Once a year over 1800 advisors congregate for four days of education and fun. I guess what I am trying to say is you are not alone. Independent advisors are their own community, and it’s a very large one.

Please contact me if you would like to learn more about your independent options. Our industry is going to change significantly over the next 12-18 months and (in my opinion) with that change you are going to see a lot of advisor movement. I encourage you to learn about your options, so you are best prepared to take care of you and your clients on your terms.


About Freedom Partners

Freedom Partners' mission is to be the premier service provider for financial advisory firms in Southern California. Freedom Partners provides hands-on support and training that focuses on enhancing and refining the people, processes, and poetry of the partner advisory firms they serve. Their goal is to increase revenue, reduce costs, and help increase enterprise value. Freedom Partner’s A-Z back-office support is delivered by their team of professionals that have had long-standing careers in financial services.  Their experience has been in roles working closely with advisors, but also as top-tier sales representatives in client-facing sales roles. They have successfully helped build and run a RIA and have experienced the full life cycle of a firm.

Freedom Partners believes these experiences are their competitive advantage in the marketplace. Freedom Partners attributes their success to offering a transparent solution that incorporates technology but also delivers the in-office support they believe advisors want and need. FreedomPartners’ Co-Founders have successfully transitioned over $1 billion of assets from Wirehouse firms since 2014. Freedom Partners currently has over $900 million of assets under contract. To learn more about how Freedom Partners may be able to help you, please visit us at or contact us at 949.751.7407.