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Benefits of Independence
After years of hard work building a successful book of business at a large wirehouse firm, going independent can be an excellent next step in furthering your career. In pursuing the independent route, benefits and specs include;
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Unprecedented Freedom
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No pressure to use a wirehouse firm's proprietary products or cross-sell services from other divisions. You have newfound access to a wider breadth of solutions that you can use at your discretion to help in meeting you clients' diverse needs
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Opportunity to choose your own clients and office structure
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Personal responsibility for expenses, therefore net income depends on your ability to control costs. You control your own P&L and do not need approval prior to allocating your budget
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Free from the multiple conflicts of interest that may be present in your current wirehouse firm, leaving you to concentrate on your clients
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Finally, you yourself are the brand...clients are more likely to resonate with you now regardless of your broker-dealer
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Payout is substantially greater than what a wirehouse would offer
Whether you desire the Independent Broker Dealer (IBD) Model or the RIA structure; Black Ridge is operated by an ex advisor whom in 1997 left Merrill and joined Met Life to start his own investment advisory firm. This was well before going independent became popular. After running this advisor firm for a decade, Bruce Papps transformed it into a RIA and eventually sold it to a private equity firm in 2007 and launched Black Ridge where for 15 years now he has helped hundred of advisors explore and transition into the independence space. In other words, our experts have sat in your seat, experienced your situation and achieved your goals.
In the RIA space, we have a number of very prestigious private equity relationships many of whom may serve as the perfect fit for your growth. These clients of ours are willing to lift you out of a wirehouse, set you up as an RIA (bringing to bear their expertise in doing so and their weight to negotiate your vendor relationships) and - most importantly - use their deep pockets to exploit this demographic paradigm shift and aggregate retiring books and smaller RIA's without succession plans; All in order to give you the assets to manage. And that is the relationship: They aggregate assets and you manage them.