Podcast - How To Go Independent

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

If 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 knowledge to educate potential sellers and set yourself apart as a knowledgeable buyer. If you have any questions about this topic, email me at kernan@hey.com or call me at 469-893-0067. Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at kernan@hey.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE.

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE . 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Summary Making 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.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Shoot me an email at sean@indyFA.com Also, check us out on Twitter: @HowToGoIndy and Facebook by clicking HERE. 

Ashley 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 independent How Ashley's unique pricing structure and low overhead have helped him be successful How to be awesome....(obviously) Other links: Ashley's website FA Magazine article on Ashley

Jim 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.

Jim 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.

Jim 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.

Jim 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.

Jim 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.

As 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 life Episode 9: Brian Ruff - how this former Merrill advisor getting a 117% payout - by joining a team

Summary Once 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/episode62 The Path to Independent part 3 (Episode 63): http://howtogoindependent.com/htgi/episode63Have questions about this episode or questions about going independent?  

We review some interesting articles about recruiting from industry publications. Related Links: http://www.thinkadvisor.com/2016/03/01/the-breakaway-push-is-sputtering-out https://www.onwallstreet.com/opinion/message-to-wirehouses-stop-messing-with-advisor-comp HTGI Episode 62: http://howtogoindependent.com/htgi/episode62

Once 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

Mindy 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.

Sean 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/

Here 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/advisor