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Going Independent

Breakaway Brokers Solutions

You have thought about going independent, and with well over 110,000 Independent Advisors across the United States the trend toward practice ownership and breakaway brokers continues to grow. What differentiates one independent model from the next and most importantly, what is best for me? TERRANA GROUP will help you choose the right independent platform and make the transition from a traditional advisor to a firm where you have the most control over your practice; whether it is to start your own RIA or help affiliate with another fee-based only RIA or independent broker dealer.

It’s more than a higher payout, which typically ranges from 80-95%.  Independent Advisors have more freedom in structuring their practices in terms of products offered and clients they can serve.

If you have developed solid relationships with your clients, you should expect a loyal following when you go independent. After all these are your clients!

Equally important, the advisor truly owns their own book, and can make arrangements for succession planning and monetization.

The breakaway broker transition is not an easy one; however, at TERRANA GROUP we will help you navigate your way through all the independent broker dealer models including hybrid platforms where you maintain both the BD side for specific solutions and the advisory (RIA) side for planning and asset management. TG will also help with setting up your own RIA. Additionally, there are also full service broker dealers that will meet you half way toward independence and shoulder most of the day-to-day business functions of the practice as an Independent Employee. Also, we will look at the various transition compensation packages available as well as your specific cost/benefit of W2 (Employee) vs. 1099 (Independent Contractor) to uncover the most appropriate solution for you.

TERRANA GROUP’s Executive Consultants will assist you in starting your own or finding the appropriate business solution with the best fitting Independent Broker Dealer or RIA across all the diverse business models:

    • Independent Advisor Representative – commission and/or fee-based
    • Registered Investment Advisor or Hybrid Advisor
    • Independent employee
    • Independent RIA
    • Office of Supervisory Jurisdiction (OSJ)
    • Sell your practice

 

Let’s get started. TERRANA GROUP welcomes the opportunity to consult with you to determine the right platform for you going forward that satisfies your long term objectives and is also best for your clients!