Going Independent? 11 Questions Wirehouse Advisors Should Ask

When wirehouse brokers consider shifting to independence, they need to weigh a lot of factors and ask a lot of questions. John Stuart and Mag Black-Scott of Beverly Hills Wealth Management provide 11 questions that should be top of mind for advisors before making the move.

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Comments (1)
This article assumes that the advisor is joining an RIA, not an independent broker dealer. If the advisor is joining an RIA he may also be concerned about a place to put his securities licenses in order to capture trails and be able to write variable annuity business. Many wirehouse advisors are interested in a hybrid type of situation unless they are already doing 100% fee-based business.

Other concerns that are important include the culture of the firm they are joining, the compatibility of the money management options, the opportunity for a succession scenario, and the opportunity for an equity position within the firm.
Posted by Mitch V | Monday, July 08 2013 at 2:03PM ET
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