Has anyone tried going out on your own as a financial advisor? Anything I should know before taking the leap?

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Yes not easy yet one of the best decision

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Make sure your book you going to take with you in big enough . Also make sure clients will follow you.

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Also take a good ca aka client associate. Pay them well to take care of the day to day admin stuff

Make sure you talk to your clients so they are onboard with the transition.

Make sure you consider everything to make sure it’s seamless for your client.

If you got that right, they will have a lot of respect for you.

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Be careful about taking to clients about leaving while you’re still with your current firm as well as afterword. Review your employment agreement/contact to see if it addresses what could be considered selling away if you talk to clients about leaving with you. And be clear about the anti-solicitation and non-compete language as well so you don’t get yourself into trouble when pursuing current clients.

Going out on your own is fantastic, but it’s not for the faint of heart not lean of capital Know that you’re starting a business, and that there are lots of expenses and perhaps months of not a year of deficits. There are myriad areas that you will spend money on: technology, marketing, office rental, supplies and equipment, licensing, insurance, compliance, etc.

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Know who your core clients are, and take them with you by knowing what you will be offering once they are able to leave their current situation. Make sure they have your contact info as well

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