Mortgage Originator Jimmy Vercellino, specializing in VA loans, helps veterans use their VA loan benefit to their greatest advantage. For more details call us at 480-351-5904 or visit our site http://www.valoansforvets.com/ The views expressed here are those of the individual author and do not necessarily represent those of First Choice Bank (NMLS #: 177877) and First Choice Loan Services Inc. (NMLS #: 210764), 7600 E. Doubletree Ranch Road, Scottsdale AZ 85258. Equal Housing Lender. www.fcloans.com/disclaimer/ www.fcbhomeloans.com/privacy 7600 E. Doubletree Ranch Road #200 Scottsdale, AZ 85258 Phone: (480) 351-5904 Email: jimmyv@fcbmtg.com http://www.valoansforvets.com http://google.com/+valoansforvets http://facebook.com/valoansforvets

2. Change is Always Scary
At Least at First
For financial advisors, leaving the safety of
the large firms housed in the towering
skyscrapers of Wall Street and starting their
own consultancy may sound like an overly
ambitious and herculean move.

3. Change is Always Scary
However, many have done it before and there’s
no reason for you to not accomplish the same
feat.
While it’s not a walk in the park, it’s feasible
and can be highly rewarding.

4. The success stories involving
breakaway brokers are varied
and there’s not one single
formula for success.

5. However, financial services recruiters would
agree that there are certain
tried-and-tested tips
a blueprint or roadmap
that brokers can use as a guide en route to
independence.

6. Never doubt your reason
for leaving your current
firm.

7. One of the things you need to do is
to pinpoint the reason why you
want to leave your present wire
house or brokerage to establish your
own advisory practice.

8. The key is to
never second guess
the reason behind your decision.

9. Many times, consultants decide to leave the
nest of their advisory firms and when things go
awry, they feel devastated and regret their
decision altogether.

10. If and when you decide to be an independent
advisor, be 100% resolved on your choice and
never question your reason for leaving.

11. According to the findings of
the research group Aite, the
most successful independent
consultants left their work
because of discontent.

12. More than half said they “broke away” because
they want to have the control to choose the
crème de la crème third party products.
42% said they want more freedom on how to
advise their clients.

13. You can tap the expertise of financial advisor
recruiters to help you with money matters
with your transition from an in-house
consultant to running your own practice.

15. According to surveys, the start-up cost for an
independent brokerage practice is somewhere
between $50,000 and $100,000.
The final amount will depend on a number of
things such as




office space
technology and infrastructure
staffing
branding materials

16. However, you should not see
this as an irrecoverable
expense, but rather a
capital expenditure.

17. shortterm
You should also
consider how
much revenue
you’re going to
bring in –
midterm
longterm

18. According to the Aite Group research
mentioned in the previous section, most
breakaway brokers retain more than 75% of
their clients.
This is your short-term income.

19. You also have to decide on a business
model, usually a choice between fee-based or
commission-based.
The good thing is, you don’t necessarily have
to choose one over the other.

20. A number of independent advisors
employ a hybrid business model
wherein they perform dual roles:
A standalone
consultant
earning a
retainer fee
A representative
of an
independent
brokerage firm
earning a
commission

22. Lastly, being an independent financial advisor
has its implication on your lifestyle.
Actually, it’s more on your
personal business ethic.

23. As an independent financial consultant, the
way you run your practice is 100% up to you.

24. This involves constantly updating your
business practices based on new regulations
and policies.
Adhering to impartial fiduciary standards is
non-negotiable.

25. Do you think you have what it takes to be an
independent investment advisor?

26. Professional financial services recruiters
can help you create a plan for a seamless
career transition.

27. The financial advisor recruiters at
Willis Consulting Inc.
have a proven track record of helping
in-house investment consultants
establish an independent advisory
business with customized solutions
based on their clients’ individual needs.

28. Visit
www.willis-consulting.com
to learn more