Is the grass greener in the independent channel? If you’re a wirehouse advisor today, it’s something you may find yourself wondering about more and more.
The fact is, the scales seem to be tipping, with many of the advantages once claimed by wirehouses—such as technology leadership and compliance support—shifting toward independents. Gaining control over your own destiny and the potential for better compensation may offer allure too, especially if you’re an entrepreneur at heart. And issues that have long been deterrents—like the transition process and the smooth transfer of client assets along the way—are proving to be less of a barrier today than in the past.
Given all that, is it the right time to break away from the wirehouse? Here are a few signs that may be pointing to yes.