Shows
How To Find A Financial AdvisorThe FASTEST and EASIEST way to confirm that your financial advisor is NOT running a scamSean recounts a thread in one of his Facebook groups where a member was dealing with a case of fraud, and didn't know where some of his money was. Sean recommends asking two questions: Who holds my money? and Who prints my statements?
2024-06-1703 minHow To Find A Financial AdvisorDo I need a financial advisor?Join Sean Kernan as he answers all the burning questions about finding and working with a financial advisor. In this episode, he answers the burning question on many peoples' minds — whether they even need a financial advisor in the first place.
2024-04-2216 min
Podcast - How To Go IndependentHTGI 110: 80/20 for Going Independent (rebroadcast)Shoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2022-09-2200 min
Podcast - How To Go IndependentHTGI 109: The 1 Decision That Will Make All (or at least 33% of) The DifferenceShoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2022-01-0600 min
Podcast - How To Go IndependentHTGI 108: Top 10 Reasons Not To Go IndependentShoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2021-10-1200 min
Podcast - How To Go IndependentHTGI 107: Questions to Ask Before You Go Independent (3 Of 3)Shoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2021-10-0400 min
Podcast - How To Go IndependentHTGI 106: Questions to Ask Before You Go Independent (2 Of 3)Shoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2021-09-2700 min
Podcast - How To Go IndependentHTGI 105: Questions to Ask Before You Go Independent (1 Of 3)Shoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2021-09-2000 min
Podcast - How To Go IndependentPlease Hold, Your Podcast Is Very Important to Us…Shoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2021-09-1300 min
Podcast - How To Go IndependentHTGI 104: Outline For Your Transition When Buying a BookIf you have thought about buying another practice to grow yours, you may wonder what exactly needs to happen when you find a seller. If you are considering independence, the opportunity to do this is a massive advantage to the business model compared to being an employee. I have done several of these transitions and am working on another potential deal. I drafted a detailed outline for the prospective seller so he would have a starting point for what would probably need to happen in a transition of his business and clients. This may help you start building the...
2020-11-0600 min
Podcast - How To Go IndependentHTGI 103: What You NEED to go IndependentShoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2020-10-2200 minPodcast - How To Go IndependentHTGI 102: Buying a BookShoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2020-10-1300 min
Podcast - How To Go IndependentHTGI 101: We're baaaaack!Shoot me an email at kernan@hey.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2020-09-2800 min
Podcast - How To Go IndependentHTGI 100: The Most Important Questions to AskShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-09-0200 min
Podcast - How To Go IndependentHTGI 099: 99 Things I've Learned from Podcasting (or Life)Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-08-1600 min
Podcast - How To Go IndependentHTGI 098: How To Listen To Podcasts After HGTI -- and Ask the Hard QuestionsShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-08-1400 min
Podcast - How To Go IndependentHTGI 097: Dealing with a Partner/Team (Non-Compete & Protocol)Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-08-0900 min
Podcast - How To Go IndependentHTGI 096: How do I raise my fees?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-07-2900 minPodcast - How To Go IndependentHTGI 095: How to Go Independent for BeginnersShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-07-2600 min
Podcast - How To Go IndependentHTGI 094: 13 of the Most Successful Platform Firms for Going IndependentShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-07-1800 minPodcast - How To Go IndependentHTGI 093: 100% Upfront Money and an Independent Payout??! Sort of...Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-06-2800 minPodcast - How To Go IndependentHTGI 092: Life happens! Using freedom to help extended familyShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-05-3100 minPodcast - How To Go IndependentHTGI 091: Goldman Sachs bought an RIA--so what?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-05-2800 minPodcast - How To Go IndependentHTGI 090: The Most Important Question to Ask YourselfShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-05-2400 minPodcast - How To Go IndependentHTGI 089: Minimum Viable Client BaseShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-03-2000 min
Podcast - How To Go IndependentHTGI 088: Big City or Small Town--What Size Independent Platform is Better?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2019-02-0800 min
Podcast - How To Go IndependentHTGI 087: Stop Doing Stuff You Don't LikeShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-07-1000 min
Podcast - How To Go IndependentHTGI 086: Enjoying the benefits of independence--Jim Webb update (2 years in)Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-07-0200 min
Podcast - How To Go IndependentHTGI 085: It’s NOT Too Good to be TrueShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-06-1800 min
Podcast - How To Go IndependentHTGI 084: Let Me Buy Your PracticeShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-06-0400 min
Podcast - How To Go IndependentHTGI 083: Career Development Ideas for a Call Center “Advisor”Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-05-2100 min
Podcast - How To Go IndependentHTGI 082: The Coming Golden Age of The Solo Financial AdvisorShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-05-0800 min
Podcast - How To Go IndependentHTGI 081: The 10 Most Important Steps To Launch Your RIAShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-04-2500 min
Podcast - How To Go Independent80 Title: Trust me, I'm a WizardShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-04-1100 min
Podcast - How To Go IndependentHTGI 079: How NOT to go independent -- the biggest mistakes to avoidShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-03-2700 min
Podcast - How To Go IndependentHTGI 078: How many of my clients will follow me?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2018-03-1400 min
Podcast - How To Go IndependentHTGI 077: What's the best job for a college graduate looking to become an advisor?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-12-2300 min
Podcast - How To Go IndependentHTGI 076: Listener question: Make a change to create a succession plan?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-12-0500 min
Podcast - How To Go IndependentHTGI 075: Is your firm acting like Old Navy or Amazon?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-10-1200 min
Podcast - How To Go IndependentHTGI 074: Think Fast, Move SlowSummaryMaking a decision to go independent--or any change of firms--should NOT be done lightly. Here are some thoughts on how to frame your research process when looking at potential places to establish your own business.Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-10-0600 min
Podcast - How To Go IndependentHTGI 073: "Big" AnnouncementShoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-09-0600 min
Podcast - How To Go IndependentHTGI 071: A long time successful Level 8: Edward Jones advisor's journey to independence, part 5 of 5SummaryJim Webb and I started in the business together at Edward Jones in 2002. We have remained friends in the years since I left EJ in 2005, and my experience became very valuable to him when he was ready to make a move in 2016. I interviewed him five times as he planned for and executed his transition: from a few weeks before until ten months after his move. This episode is part 5 of that series.Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HE...
2017-07-1700 min
Podcast - How To Go IndependentHTGI 070: A long time successful Level 8: Edward Jones advisor's journey to independence, part 4 of 5SummaryJim Webb and I started in the business together at Edward Jones in 2002. We have remained friends in the years since I left EJ in 2005, and my experience became very valuable to him when he was ready to make a move in 2016. I interviewed him five times as he planned for and executed his transition: from a few weeks before until ten months after his move. This episode is part 4 of that series.Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HE...
2017-07-1000 min
Podcast - How To Go IndependentHTGI 069: A long time successful Level 8: Edward Jones advisor's journey to independence, part 3 of 5SummaryJim Webb and I started in the business together at Edward Jones in 2002. We have remained friends in the years since I left EJ in 2005, and my experience became very valuable to him when he was ready to make a move in 2016. I interviewed him five times as he planned for and executed his transition: from a few weeks before until ten months after his move. This episode is part 3 of that series.Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HE...
2017-07-0300 min
Podcast - How To Go IndependentHTGI 068: A long time successful Level 8: Edward Jones advisor's journey to independence, part 2 of 5SummaryJim Webb and I started in the business together at Edward Jones in 2002. We have remained friends in the years since I left EJ in 2005, and my experience became very valuable to him when he was ready to make a move in 2016. I interviewed him five times as he planned for and executed his transition: from a few weeks before until ten months after his move. This episode is part 2 of that series.Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HE...
2017-06-2600 min
Podcast - How To Go IndependentHTGI 067: A long time successful Level 8: Edward Jones advisor's journey to independence, part 1 of 5SummaryJim Webb and I started in the business together at Edward Jones in 2002. We have remained friends in the years since I left EJ in 2005, and my experience became very valuable to him when he was ready to make a move in 2016. I interviewed him five times as he planned for and executed his transition: from a few weeks before until ten months after his move. This episode is part 1 of that series.Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HE...
2017-06-1900 min
Podcast - How To Go IndependentHTGI 066: Get the right people "on the bus" (and in the right seats)SummaryAs an employee advisor, you may be given some staff help---but is it the RIGHT staff help? As an independent advisor, you get to choose who and how people work for you. Here are two examples of people that work for me and how they've made my business (and life!) better.Related Links (interviews with some of our "right people on the right seats"):Episode 53: An interview with Sarah Pais--a senior staff member's perpsective on wirehouse vs. independent lifeEpisode 9: Brian Ruff - how this former Merrill advisor getting a 117% payout - by joining...
2017-06-0600 min
Podcast - How To Go IndependentHTGI 065: The Path To Independence, Part 4 -- decide and executeSummaryOnce you have explored the options, you have to pick one and GO! However, you need to spend as much time as you need to properly plan and execute your transition....but not so long that you find reasons to not make the move.Related Links:The Path To Independence part 1 (Episode 60): http://howtogoindependent.com/htgi/episode60 The Path To Independence part 2 (Episode 62): http://howtogoindependent.com/htgi/episode62The Path to Independent part 3 (Episode 63): http://howtogoindependent.com/htgi/episode63Have questions about this episode or questions about going independent? Shoot me an email...
2017-05-2600 min
Podcast - How To Go IndependentHTGI 064: Follow The MoneySummaryWe review some interesting articles about recruiting from industry publications.Related Links:http://www.thinkadvisor.com/2016/03/01/the-breakaway-push-is-sputtering-outhttps://www.onwallstreet.com/opinion/message-to-wirehouses-stop-messing-with-advisor-compHTGI Episode 62: http://howtogoindependent.com/htgi/episode62Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-05-1600 min
Podcast - How To Go IndependentHTGI 063: The Path To Independence, Part 3 -- define your major criteria and identify optionsSummaryOnce you've found a trusted guide (Part 2), you are ready to start narrowing the field of potential opportunities. Your search for the right way to go independent for you should be specific to what you want out of your business and the partners/providers you use to run it.Related Links: The Path To Independence part 1 (Episode 60): http://howtogoindependent.com/htgi/episode60 The Path To Independence part 2 (Episode 62): http://howtogoindependent.com/htgi/episode62 Have questions about this episode or questions about going independent? Shoot me an...
2017-04-2700 min
Podcast - How To Go IndependentHTGI 062: The Path To Independence, Part 2 -- find a trusted guide, like Mindy DiamondSummaryMindy Diamond has spent 20 years helping advisors explore and decide about which firm is the best fit. In this conversation, she outlines how she walks her clients through a process to truly understand what they want out, both from business as a financial advisor and their life as a whole. Her industry reputation is second to none, so if you're not sure how to look around the landscape at your options, this episode will allow you to tap into Mindy's wisdom.Have questions about this episode or questions about going independent? Shoot m...
2017-04-1800 min
Podcast - How To Go IndependentHTGI 061: HTGI on XYPN RadioSummarySean was a guest on episode 93 of XYPN Radio, the XY Planning Network's podcast, discussing the option of going independent as a hybrid as a step towards an RIA arrangement.Related Links:XYPN Show Notes: http://blog.xyplanningnetwork.com/podcast-blog/ep-93-path-from-commission-hybrid-fee-only-interview-with-sean-kernanXYPN for advisors: http://www.xyplanningnetwork.com/advisor/Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-04-0700 min
How To Go Independent PodcastHTGI 061: HTGI on XYPN RadioSean was a guest on episode 93 of XYPN Radio, the XY Planning Network's podcast, discussing the option of going independent as a hybrid as a step towards an RIA arrangement. Related Links: XYPN Show Notes: http://blog.xyplanningnetwork.com/podcast-blog/ep-93-path-from-commission-hybrid-fee-only-interview-with-sean-kernan XYPN for advisors: http://www.xyplanningnetwork.com/advisor/
2017-04-0750 min
Podcast - How To Go IndependentHTGI 060: The Path To Independence, Part 1 -- should I even consider it?SummaryHere on HTGI, we like being independent -- so we may tend to gloss over the fact that it is not for everyone. This episode is the first in a series walking you through the whole process: from the first awareness that being independent is possible to the day you make a move. I cover some obvious reasons to continue down the path researching independence as well a few reasons that you probably shouldn't.Related Links:xyplanningnetwork.com/advisorHave questions about this episode or questions about going independent?
2017-03-2800 min
Podcast - How To Go IndependentHTGI 059: The Location Independent AdvisorSummarySteve Diamond as been an independent advisor for 15 years---and most of that has been spent working far away from the bulk of his clients. When his wife got a job offer she/they couldn't refuse, Steve moved from Texas to California. He expected to eventually use ALL of his clients--but instead, his business has steadily grown. Listen to learn the key reasons Steve has been so successful with his "location independent" business.Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comA...
2017-03-2100 min
Podcast - How To Go IndependentHTGI 058: The benefits of "Unknown Unknowns" of going independentSummaryHave you done a cursory analysis of the benefits of setting up your own practice? If you have, you probably compared your net payout now to your potential net payout on your own. While that is useful, there are also very intangible and unknowable benefits that can emerge with the flexibility of being a business owner. I talk about 6 of the big ones that have made an enormous benefit in my business and life.Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.com
2017-03-1400 min
Podcast - How To Go IndependentHTGI 057: The 3 secrets to a successful move to independence (you won't believe #2!)SummaryWhen you first contemplate what setting up your own practice would entail, it can seem overwhelming. I've been there, done that, felt that way, etc---and lived to tell about it. However, I can boil the vital ingredients down to just 3: make sure you learn from OTHER people's experiences (and mistakes), make sure you have a backup plan for your business (or more accurately, for your LIFE!), and make sure you build in optionality and flexibility in the early stages of your new business.Have questions about this episode or questions about going independent?
2017-03-0800 min
Podcast - How To Go IndependentHTGI 056: "About Us" - how you can better describe your business to the world when you go independentSummaryWhen you make the move to independence, you'll have the freedom tell both clients and prospects more about your business than you might have been able to other other employee firmsHave questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-02-2813 min
Podcast - How To Go IndependentHTGI 055: Listener success story: Desmond Henry's recent experience in going independentSummaryThis episode is an interview with Desmond Henry, one of the first listeners of the podcast that I connected with. By the time HTGI started, he was already full speed ahead researching his options much like I had 7 years earlier. He made the move from bank channel to his own practice in June 2016. Listen to hear his lessons learned and how he is enjoying the journey so far.Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out o...
2017-02-2100 min
Podcast - How To Go IndependentHTGI 054: Case study: I bought a practice with no money down that was cash flow positive almost immediatelySummaryI took over a business from a colleague last year that has worked out very well for both of us so far (as well as the clients I now serve). The existing relationship I had with the seller allowed us to quickly and smoothly come to terms on a mutually beneficial arrangement. Listen to the details, which included NO down payment and tax advantaged payments for me.Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on T...
2017-02-1428 min
Podcast - How To Go IndependentHTGI 053: An interview with Sarah Pais--a senior staff member's perpsective on wirehouse vs. independent lifeSummarySarah Pais is the Chief Operating Officer of 360 Wealth Management, a hybrid RIA that supports other independent financial advisors. Listen in to hear her thoughts on what the key differences are between working within a wirehouse vs. striking out on your own.Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-02-0700 min
Podcast - How To Go IndependentHTGI 052: How to sell your practice -- a case study with an advisor who did it
SummaryWe hear a lot about buying a practice, but we don't often hear from advisor that has successfully sold a business. Leesa Cattley retired from the industry at the end of 2012 and has not looked back. She has some great insights with the benefit of several years of distance from the transaction. Listen in to hear how she did it and the lessons she learned.Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and...
2017-01-3100 min
Podcast - How To Go IndependentHTGI 051: How much production or AUM do I need to go independent?SummaryCurious about what production level you should be at when you are considering independence? In this episode, I'll talk about payouts, expenses and what you'll expect to take home when you go independent. Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-01-2400 min
Podcast - How To Go IndependentHTGI 050: Removing the muzzle--3 clear ways that communication with the world is easier as an independent advisorSummaryWe work in a highly regulated industry, so it can be tricky to communicate with the world in a way that fits your business. A large company has to deal with the reality that ten to twenty thousand advisors are potentially putting them at risk. With those two factors, it's nearly impossible to escape the lowest common denominator approach to marketing, branding, social media, etc.An advisor acquaintance of mine--who is an employee of a large firm--recently shared a very personal story on a personal social media account and got an outpouring of responses...
2017-01-1921 minPodcast - How To Go IndependentHTGI 049: An interview with transitions expert Teresa McCandlessSummaryToday I interviewed a transition specialist that assists advisors with the transition process. Teresa McCandless has a ton of experience, and is a great asset to our firm and those advisors she helps transition their books to our firm. Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2017-01-1100 min
Podcast - How To Go IndependentHTGI 048: Semi-retirement with a Lifestyle Practice -- one route to a simpler lifeSummaryGoing independent can help you create a more satisfying lifestyle while still serving your favorite clients and remaining active in the business. Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-10-0515 min
Podcast - How To Go IndependentHTGI 047: DOL changes -- opportunity to buy (or sell) a practice?SummaryThe upcoming implementation of the DOL ruling has some advisors questioning if they'll stay in the business. We'll discuss some things for those advisors to consider, as well as potential opportunities for those who are sticking around.Links from this episode:18% of Advisors Considering Leaving the BusinessHave questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-09-3033 min
Podcast - How To Go IndependentHTGI 046: Should I spend money to save time?SummaryToday I'll talk about an example of why saving ONE minute a day is easily worth $100/year and other ways to maximize your time when you're running a financial advisor practice.LINKS FROM THIS EPISODE:Michael Kitces Youtube VideoHave questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-09-2900 min
Podcast - How To Go IndependentHTGI 045: The tradeoff between upfront money and a higher payoutSummaryWhen considering your options to go independent, you may also consider the economics of employee firm recruiting deals. In this episode, I'll suggest a framework for how to consider the spectrum of tradeoffs between payout and upfront money.In this episode you will learn....How to compare upfront transition bonuses with payout when evaluating a move from your current firmHave questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by cli...
2016-09-2818 min
Podcast - How To Go IndependentHTGI 044: What are the biggest risks during a transition to independence?SummaryPlanning and executing a transition does involve some risk. You can't predict the future, but you can plan for mitigating the biggest and most obvious ones. We'll cover the biggest risks in making the move. In this episode you will learn....What variables you should be worrying about when you are making a moveWhat smaller risks could derail your plan
Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clic...
2016-09-2737 min
Podcast - How To Go IndependentHTGI 043: VOIP--a "secret" weapon that increases your location independenceSummaryVOIP---Voice Over Internet Protocol--is a great technology that gives you numerous benefits as an independent financial advisor and business owner. If you are considering establishing your own practice, do yourself a favor and make sure you explore VOIP solutions for your phone system.In this episode you will learn....Why I love Google Voice (and how I use it)Other freedoms that a VOIP system enablesHave questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out o...
2016-09-2600 min
Podcast - How To Go IndependentHTGI 042: When you don't want to retire -- alternatives to selling your practiceSummaryThere is a lot of talk about buying and selling advisory practices, but what if you're not ready to sell? There are other ways to get value from your business as you get older. I'll talk about your options in this episode. In this episode you will learn....Four other ways besides selling you can run your business to extract value for yourself Have questions about this episode or questions about going independent? Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Fa...
2016-09-2328 min
Podcast - How To Go IndependentHTGI 041: Independence is great (so they say), but what are the "gotchas"?SummaryGoing from employee to independent advisor, you may find you have to take care of some details you're not used to dealing with. We cover those in this episode.In this episode you will learn....The potential annoyances of being independent, along with some suggestions of how to make them far less annoying.Have questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-09-2200 min
Podcast - How To Go IndependentHTGI 040: The benefits of having your "freedom"SummaryI often talk about the flexibility and freedom inherent in being an independent financial advisor; this episode goes into what that freedom really gets you.In this episode you will learn....Tangible ways that independent financial advisors experience "freedom" and flexibility as a business owner.Have questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-09-2117 min
Podcast - How To Go IndependentHTGI 039: Should you consider using remote staff?SummaryA lot of independent advisors use virtual assistants as part of their business. In this episode, I'll discuss the reasons to consider using remote/virtual assistants in your practice. In this episode you will learn....How using remote (sometimes called "virtual") staff can be a great option to leverage your time at a reasonable cost.Several of the key reasons why you should investigate this option for yourindependent practice.Show linksVirtual FreedomVirtual Staff FinderVirtual Assisstant PodcastEA Help WebsiteHave questions about this episode or questions about going i...
2016-09-2021 min
Podcast - How To Go IndependentHTGI 038: "Plug & Play" vs. a la carte financial advisor business modelsSummaryStarting completely from scratch seems overwhelming, so some advisors sign up for fully bundled solutions when they go independent. I discuss the pros and cons of that approach in this episode.In this episode you will learn....The difference in the service offered at different firmsHow your expenses might be differ depending on what firm you joinHave questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-09-1923 min
Podcast - How To Go IndependentHTGI 037: What is the best time of day/week/month/year to go independent?SummaryYou've made the decision to go independent, now you are trying to optimize your timing. In this episode we talk about the best times to make a move.In this episode you will learn....If there are benefits to leaving your firm on a certain day of the weekHow the market cycle might affect your move to independenceHave questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-09-1617 min
Podcast - How To Go IndependentHTGI 036: Choosing your transition staff team--what to look forSummaryWhen you are making the move to independence, you are learning a lot of new things at once. If you can find someone to help you open accounts and process transfers, you can take a lof of pressure and labor off yourself (and your assistant if you have one). In this episode I talk about things to look for when finding a transition team.In this episode you will learn....If you should hire someone to assist you with your transition to independenceExperience and skills required for someone working on your transition team
2016-09-1521 min
Podcast - How To Go IndependentHTGI 035: Should I set up my own RIA and/or broker-dealer?SummaryIf you have been in an employee firm your whole career, RIA and B/D may be familiar but still somewhat foreign concepts to you. We briefly describe what each is and answer a listener's question about whether or not he setup his own.In this episode you will learn....How a Broker/Dealer setup differs from an RIA setupWhat type of setup you'll need to run your business as an independentHave questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.com
2016-09-1426 min
Podcast - How To Go IndependentHTGI 034: Will your clients go with you?SummaryIf you set up your own business, but none of you clients come with you---well, then you don't have much of a business. In this episode, we review the some factors that have a correlation with client retention in a move to independence.In this episode you will learn....How to analyze the relationships you have with your clients to determine if they will come with you when you go independent. Reasons clients might decide not to come with you. Have questions about this episode or questions about going independent?Sh...
2016-09-1300 min
Podcast - How To Go IndependentHTGI 033: Should I change my business model while I'm going independent?SummaryWhen you are making a firm change, it is a natural time to question your business model and consider making changes you would like have in place for the future. This episode discusses the pros and cons of making a change in business model at the same time you are setting up your own practice.In this episode you will learn....If changing business model is necessary when you are making the jump to independenceMy thoughts on business models when setting up your own financial advisor practice. Have questions about this episode o...
2016-09-1224 min
Podcast - How To Go IndependentHTGI 032: What client info can I take with me when I go independent?SummaryPreparing to go independent can be complicated. The "Broker Protocol" gives us a framework for the legal considerations when changing firms. I'll also talk about a great article on Protocol by Michael Kitces. In this episode you will learn....What information you get to take with you when you change firmsHow clients might react when you decide to change firmsOther good resources you might use when making the decision to change firmsLink to articles mentioned in the episode:Michael Kitces ArticleHave questions about this episode or questions about g...
2016-09-0913 min
Podcast - How To Go IndependentHTGI 031: Comparing your current payout to an independent model payoutSummaryMany independent advisors brag about their 90% payout, but we all know that is not net. But how do you go about comparing your payout at an employee firm to what you might net in an independent business model? This episode gives you an overview of how to get started on that comparison.In this episode you will learn....How advisors in the independent model are compensatedHow to compare the compensation of the independent model with the employee modelHave questions about this episode or questions about going independent?Shoot me...
2016-09-0800 minPodcast - How To Go IndependentHTGI 030: DOL Changes are coming soon -- are you ready?SummaryThe new DOL changes are a hot topic among people in our industry. Today I thought I'd scatter-shoot on my thoughts on the rule and how it might affect independent financial advisors. In this episode you will learn....A few ways the new DOL rule might affect financial advisors, both independent and in the employee channelEverything you would ever need to know about the DOL rule (ok not really)Have questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comAlso, c...
2016-09-0200 min
Podcast - How To Go IndependentHTGI 029: RIA Matchmaker -- an interview with Mary Ann Buchanan from RIAMatch.comSummaryToday I talk with Mary Ann Buchanan of RIAmatch.com. Much like this site, Mary Ann's goal is to help educate advisors and connect them with RIA firms that are looking to add independent advisors. In this episode you will learn....How advisors use RIAmatch to find a landing spot in the independent channelCommon concerns advisors have when looking at going independentLinks you should check out:RIA Match 5 Paths ArticleRIAMatch WebsiteHave questions about this episode or questions about going independent?Shoot me an email at sean@i...
2016-08-1033 minPodcast - How To Go IndependentHTGI 028: Top 10 reasons why you wouldn't want to go independentSummaryWe've talked about a number of reasons why I think independence is great, but today I thought I'd discuss reasons why you might want to stay at your firm. In this episode you will learn....Reasons staying at your current firm might be the right decisionWhat scenarios might keep some advisors from going independentHow to be awesome....(obviously)Links you should check out:Taking the Upfront Check: HTGI Episode 17Sean's journey to independence: HTGI Episode 1What you need to go independentHave questions about this episode or questions about going i...
2016-06-2827 min
Podcast - How To Go IndependentHTGI 027: Veteran financial advisor Linda Mills on being independentSummaryA veteran of almost 50 years in financial services, advisor LInda Mills joins me and talks about her experiences in the industry and how the independent model differs from other firms. In this episode you will learn....How Linda's practice has evolved during her time in the industryHow being independent has benefited her practiceHow to be awesome....(obviously)Have questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comAlso, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.
2016-06-2051 min
Podcast - How To Go IndependentHTGI 026: What do I need to do before I go independent?SummaryHave you thought about what you will actually need to become an independent financial advisor? In this episode I break down the most important things you will need to have in place before your make the move to independence. In this episode you will learn....What you should consider before you go independentHow to make your transition as smooth as possibleHow to be awesome....(obviously)Other stuff you might want to check out:What is an OSJ?Tech tools for the independent advisorHave questions about this episode or questions a...
2016-06-1326 min
Podcast - How To Go IndependentHTGI 025: Brad Weddle -- "wish I had done it sooner" despite his "disappointing" transition from Edward JonesSummaryAfter 14 years at Edward Jones, Brad Weddle transitioned his successfull practice at possibly the worst time - and has enjoyed continued success as an independent financial advisor. In this episode you will learn....How Brad's business structure has changed over his careerHow even if the timing of your transition isn't perfect, you can still build a successful practiceHow to be awesome....(obviously)Other stuff you might want to check out:Brad's WebsiteTranscript to this episodeHave questions about this episode or questions about going independent?Shoot me an e...
2016-06-0649 min
Podcast - How To Go IndependentHTGI 024: Talking Independence with Joshua Sheats on the Radical Personal Finance PodcastSummaryHere's a recent episode of the Radical Personal Finance Podcast with Joshua Sheats. He's a former financial advisor whose podcast has taken off, and aims to educate investors and advisors alike on the world of personal finance. I joined Joshua to talk about why advisors might look at independence for their practice. In this episode you will learn....The differences in the insurance, wirehouse and independent channelHow each channel might benefit advisors and what type of practice you might run in eachHow to be awesome....(obviously)Other stuff you might want to c...
2016-06-041h 32
Podcast - How To Go IndependentHTGI 023: How Ashley Hodge manages $100 million from his home office without an assistantSummaryAshley Hodge, an independent financial advisor in the Fort Worth area, talked about his path to the independent channel. Ashley describes two drastically different transitions in his career, and also breaks down how he has lowered his overhead after going independent. In this episode you will learn....How moves from a wirehouse to another wirehouse can sometimes be more difficult than going independentHow Ashley's unique pricing structure and low overhead have helped him be successfulHow to be awesome....(obviously)Other links:Ashley's websiteFA Magazine article on Ashley
Have questions about t...
2016-05-2753 min
Podcast - How To Go IndependentHTGI 022: What does "being independent" mean?SummaryWhat does it mean to be an independent financial advisor? Sometimes advisors think independent means starting from scratch, but in this episode, you'll find out that's not the case 99% of the time. In this episode you will learn....Some common misconceptions about the word "independent" and how it applies to your practiceHow to determine if you are really independentHow to be awesome....(obviously)Links to other stuff you might want to check out:Transcript article on the HTGI BlogIndependent financial advisor payoutHave questions about this episode or questions about g...
2016-05-2300 min
Podcast - How To Go IndependentHTGI 021: Katie Brewer-- can't find the ideal place to work? Build it yourself!Summary
Katie worked at several places-- large, small, investment-focused, insurance-focused, you name it-- before realizing she needed to try her hand at starting her own. She's on the leading edge of advisors serving younger and/or clients with few investable assets, using technology and a monthly subscription model. In this episode you will learn....Why and how you don't need to turn people away just because their assets are tied up in a 401 (k)-- as long as they are looking for financial planning and value adviceHow using current communication technology can leverage your t...
2016-05-1752 min
Podcast - How To Go IndependentHTGI 020: Chad Atkins on best practices in converting from brokerage to advisorySummaryChad bought a practice to make the transition from wholesaler to advisor. He also converted much of that practice from brokerage to advisory and shared a few lessons learned from his experience in this week's episode. In this episode you will learn....Why you may NOT want to convert your brokerage business at once, even if you're ready toHow to discuss potential objections from clients (or the voices in your own head) about moving to advisoryHow to be awesome....(obviously)Other links of interest:DOL Summary by Michael KitcesDOL Ruling Fact S...
2016-05-0500 min
Podcast - How To Go IndependentHTGI 019: Brandon Day on his short trip from insurance company to $1 Billion firm principalSummaryBrandon Day carefully planned his move to independence, which not only made his transition smooth but led to opportunities that dramatically increased his income. He talks about how being independent gives him the ability to take advantage of things you could never dream of as an employee.In this episode you will learn....How the lack of restrictions in the independent channel can lead to a whole new business being createdTools the independent advisor has at their disposal vs. and insurance-based broker dealerHow to be awesome....(obviously)Want the transcript?H...
2016-04-2700 min
Podcast - How To Go IndependentHTGI 018: Podcasts I like (and you might too)SummaryPodcasts can be a great way to build your knowledge base, both in the financial world and in business in general. In this episode, I give a rundown of a few of my favorite podcasts that I listen to on a regular basis. In this episode you will learn....Podcasts in and out of our industry that might help you build a successful financial advisor practiceHow to be awesome....(obviously)
Have questions about this episode or questions about going independent?Shoot me an email at sean@indyFA.comA...
2016-04-2124 min
Podcast - How To Go IndependentHTGI 017: How to compare the financial benefits of a recruiting transition deal with going independentSummaryOne big hurdle to going independent is giving up the large cash windfall that a wirehouse recruiting deal can yield. In this episode, I compared those two different paths for financial advisors looking at a practice transition. In this episode you will learn....How to make an "apples-to-apples" comparision between a potential transition package and the financial benefits of independenceWhy a big, upfront check from a wirehouse is really only like getting a 12.5% per year payout increaseHow to be awesome....(obviously)Other Notes/Links from the show:AdvisorHub.comHTGI OO1: Episode 1 of...
2016-04-1550 min
Podcast - How To Go IndependentHTGI 016: Gerald Robinson -- A Career-changer financial advisor's path to independenceSummaryToday I interviewed Gerald Robinson, a CFP and independent financial advisor in Flower Mound, Texas. Gerald talks about his path to independence that included a stop at couple of employee-model firms before finding his home in the independent channel. In this episode you will learn....Another independent advisor's experience with employee model firmsHow an independent practice can operate with little-to-no overheadHow to be awesome....(obviously)Check out Gerald's website at www.LightForceFinancial.com
Have questions about this episode or questions about going independent?Shoot me an email at s...
2016-04-0600 min
Podcast - How To Go IndependentHTGI 015: The independent financial advisor toolbox: what I find useful in my practiceSummaryWhen you're an independent financial advisor, you have a lot of options when it comes to tools you can use to run your practice. I thought I would do a rundown of a few "techy" tools I use on a day-to-day basis. In this episode you will learn....A few tools that and independent advisor might find usefulWays you can use tech tools to wrap your business around your life (and not vice-versa)How to be awesome....(obviously)
Have questions about this episode or have a tool that helps make your business/l...
2016-04-0241 min
Podcast - How To Go IndependentHTGI 014: Helping BILLION dollar teams go independentSummaryMatt Sonnen coordinated the jump to independence for a team with close to $2 billion AUM. A few years later, the firm was sold to a bank for $100+ million....so he has helped create literally tens of millions of dollars of value for advisors in his career. He talks about his lessons learned and consulting practice helping large wirehouse teams.In this episode you will learn....That even large teams worry before going independentWhat issues large teams face before leaving the large firmsHow to be awesome....(obviously)You can check out Matt's website...
2016-03-3056 min