How Does Your Independence Benefit Your Clients?
Freedom from quotas, potentially larger payouts, control over how you run your business. These are just a few of the many benefits that going independent offers to an advisor. But what about your clients? How does your independence as a financial advisor benefit them and their money? Here are a few things to highlight to your prospective clients to show them the value you bring to the table.
1. Fewer Conflicts Of Interest
As an independent advisor, you aren’t tied to any specific investment product company or family of funds and aren’t required to meet quotas. Instead, you have the freedom to recommend strategies from a wide breadth of solutions and match services and products to your clients’ needs.
And since you probably wouldn’t want your money held by the same person who gives you advice about where to invest it, the fact that independent advisors invest their clients’ money with independent custodians lets the client know that the advice they are getting is keeping with their interests. The custodian firm provides accountability and prevents the independent advisor from making decisions that profit them personally.
2. A Long-Term Relationship
Unlike some advisors from large companies who manage thousands of accounts, independent advisors put a premium on relationships. They aren’t there just to manage money, they want to see their clients succeed in life and be there for them in every milestone they reach. In order to offer the customized advice and solutions they are known for, independent advisors must build deep and long-lasting relationships with their clients and get to know them on a personal level. Instead of thinking of clients as transactions, they treat their clients like family, holding themselves personally accountable for reaching their clients’ goals.
3. No Confusing Fees
A significant benefit of working with an independent advisor is how they charge clients. First and foremost, independent advisors disclose their fee structure to clients before any agreed-upon engagement. In addition, their fee structure is always transparent and easy to understand for clients. It is typical for an independent advisor to operate under an hourly, project-based, retainer, fee-only, or fee-based model, all of which create fewer conflicts of interest for the advisor. This is very important for the client, as one of the major impacts on investment return is the percentage of fees you pay.
4. A Valuable Resource
Independent advisors tend to look beyond just the clients’ investment portfolio, helping with their clients’ entire financial picture and giving advice based on their unique situations, goals, and needs. That means clients benefit from the experience and specializations independent advisors offer for a variety of complex financial needs and receive trusted referrals to other specialists when the need arises.
The Benefits Are Endless
Your independence brings a whole slew of benefits, not just to you but your clients as well. As you do your part to build relationships with your clients and optimize their financial life, let Freedom Wealth Alliance relieve you of the burden of day-to-day business management. Our services provide you with the resources you need to serve your clients and help you do what you want to do most—make your clients’ lives better. Learn more about our firm and its unique advantages by visiting www.explorefreedomwealthalliance.com. You can also email us at krozman@freedomwealthalliance.com or call Kurt Rozman at 262-798-7979.
About Freedom Wealth Alliance
Freedom Wealth Alliance is a Registered Investment Advisor providing a home and multiple affiliation options for financial advisors seeking business growth and/or succession planning, operational excellence, and turn-key placement. We created this firm to relieve your stress no matter the stage of your firm. We take the burden of running the business off your back, so you can spend your time doing what you do best and love the most. If that means spending more time with clients and prospects, you can. If that means spending more time with your family, just do it. Visit www.explorefreedomwealthalliance.com and sign up for a free account to access all the tools and resources we have developed to help you transition to true freedom and business ownership.
For Investment Professional Use Only