Dan Weil

Full-service planning allows for a bigger impact, but a niche approach may mean more objectivity.

Advisers should leverage these relationships to reel in clients.

Advisers should leverage these relationships to reel in clients.

Advisers might want to steer their practices away from doctors and toward millennials.

Advisers say one option has clear benefits over the other.

Here’s what advisers are suggesting, just in case.

Here’s what advisers are suggesting, just in case.

By all means put a plan in place, but flexibility is key in case circumstances change.

By all means put a plan in place, but flexibility is key in case circumstances change.

Going independent is alluring, but it also has its quirks. For instance, there is usually no support staff. Finding new clients while properly serving existing ones is “a juggling act,” CFP Tom Fredrickson says.

Advisers shouldn’t assume that all their favorite clients will follow them out the door.

A variety of clients may find it wiser to hold back.

A variety of clients may find it wiser to hold back.

But firm leaders may have to change misperceptions and offer strategies to make the transition.

Viewing these services only as a threat may mean a firm is selling clients short.

Viewing these services only as a threat may mean a firm is selling clients short.