An inside view of the growth of the independent space—and what advisors need to do to make their own move successful.
As more and more advisors consider a move to the independent space, they often express concern about the heavy-lifting such a move might require.
In this episode Mindy is joined by Tim Oden, Senior Managing Director for Business Development at Schwab Advisor Services. With his 30-years of industry experience, he offers a great perspective on the ever-increasing movement towards the independent space. Together they explore what’s really behind the momentum, as well as:
- Why even UHNW advisors are moving to the independent space.
- How the RIA space has changed over the past decade.
- The evolving role of custodians in the space (it’s no longer only about the safe custody of assets).
- How the technology available to RIAs contributes to advisors’ efficiency and growth.
- The benefits of independence to clients.
- How changes in the industry (transition deals, the breakdown of Protocol, the possibility of a bear market) will impact the decisions of advisors considering independence.
Tim shares some really sage thoughts about independence, but one valuable nugget stood out for those considering the space: Clients value trust above all else. Having that trust is what’s key to both the success of a move and ongoing growth of your business.
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