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Schwab independent Advisor channel anyone?
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Kicking a couple of tires in the independent channel as well as some hybrids where I can get some company benefits. Don't know really what to do yet as I have family member with a pre-existing condition so company sponsored health ins is important.
I'm youngish (30), stuck in B/D world 🌎. Want out. Looking RIA, planning centric, fee based. Not in the right system for the work I do for clients.
Why avoid Schwab?
Schwab is basically working their brand between you and your client... whatch the TV adds, look at their Franchise RIA, the local branch poached a 5mln relationship from us... and much more. Not saying the other custodians are completely innocent but Schwab is the 800 gorilla! Best way to prevent any custodian intervention is be sure you have the FinTech on your side to push your brand. Client web portal, performance statements, billing statements, a good website. Control Your Future: Go Indie RIA.
Interesting. Our firm is now looking at ways to provide group medical to our indies. Should have an answer within a month.
What kind of tires is a very important question. There are vast differences between wirehouse, hybrid, captive and Indie RIAs.. we have an informative white paper on our website called "Defining the Independent Advisor", check it out and get a better understanding of what's out there.
Boy, this bowl is dead... I know advisors are always looking for a change, too bad there are so many people with so many different offerings just badgering the crap out of qualified candidates. Get Happy, Go Indie RIA.
Westside, because you're young your age group is in strong demand. Do the research, contact Fidelity or TDA (avoid Schwab) and ask for a referral... or contact us and maybe we can point you in the right direction.
Been looking at Multiple options of late.
1. Mutual company
2. Public company (similar to Pru): focus on Schools
3. Independent firm: I don't have enough assets
4. Small Mom and pop shop registered with RIA
5. Wirehouse, but their training programs seem to be on hold till January 1. So can't really say there is an opportunity there.
6. Staying where I'm at
Everyone has their "hook" but I'm going to make a decision based on the mentorship that is available.
If it’s based on mentorship throw indie out the window...because you’re independent. I’m relatively new, about 7 years in and I’m indie after being at a captive firm. It was a great decision to leave behind the corporate advisor world
Thinking about moving to Thrivent’s new RIA model? Any experience/thoughts on Thrivent and their RIA model?