Are you ready for independence? There certainly is plenty to think about as you consider embarking on the next phase of your career — from your personal lifestyle preferences to your future goals and, especially, a reality check on your current business. This quiz will help you determine whether or not the move to independence may be right for you and what is the best way to go about it.
There are no right or wrong answers, so take your time, have fun with it. Above all, be honest about the career you have and the career you’ve always wanted. Once you’ve answered all the questions, submit your answers.
I am an employee who welcomes my firm’s direction.I want to be a business owner yet leverage my partners’ support to make decisions about my practice.I want 100% autonomy to make all business decisions about my practice.
Truth be told, I simply manage the clients for the firm.Technically, the firm owns the clients, but they wouldn’t stay here if I left.My clients are MY clients and would follow me anywhere.
Never! I always offer clients only products and services that are in their best interest.I sure do! Because I know I must offer clients firm-produced products and services.I sometimes feel conflicted as I don’t have complete control over the products I can offer to clients.
I do the majority of work to get new clients, but the firm does supply marketing materials.I don’t have to lift a finger -- the firm supplies all of my new clients.Are you kidding? I land clients on my own, primarily through word-of-mouth and referrals from existing clients.
I am not upset, but I wouldn’t mind receiving more for what I do.Yes, I’m very happy with how my firm compensates me. I’m so lucky!No, the value I provide eclipses my compensation and I don’t get enough from the firm in return.
I do get to choose from a limited number of templates to create my own materials, but it’s far from perfect.The firm provides a few marketing pieces though I can’t customize them to reflect my brand.Dream on. We can’t even have a Facebook page.
Not at all. I am very comfortable with being my client’s fiduciary; in fact, I embrace the fiduciary model.I prefer the Suitability Standard.I’m okay with the Fiduciary Standard but only when it comes to retirement products.
My firm’s compliance requirements often feel overbearing and prevent me from serving my clients in the way I prefer.I understand why my firm requires the compliance that it does, but it doesn’t take into account my level of experience.I like the level of compliance support my firm provides me; the oversight is helpful!
Not exactly cutting edge, but it gets the job done.My firm provides me with the best technology on the market.Feels prehistoric. I want more sophisticated technology so I can serve my clients better.
Yes, the firm has all I could ever ask for.The firm has some strong capabilities but I wish I could customize them to fit client needs better.Seriously? I lose more business because the firm doesn’t have or won’t let me offer full solutions.
I like the guardrails for my business and am willing to sacrifice growth.I’m constantly jumping over hurdles to grow my business.I’m able to grow my business but regulation sometimes slows me down.
Collegial and supportive.Hands-off.Confining. That says it all.
Do we sense some kernels of discontent? It sounds as if you may have already started thinking about how you want to spend the rest of your career. We’ve seen many Advisors like you who are ready and capable of moving, so why not learn more about how we can help you find greater fulfillment and financial freedom through an alternative model of independence?
Let’s make this simple: the wirehouse model is no longer able to satisfy both your needs and, most important, the needs of your clients. We at Sanctuary Wealth want to share with you a fresh look at independence that can help you recharge your career and earnings power. Click here and let’s connect. We’ll do a full review of your current practice, explore your goals and dreams, and before you know it, you’ll be on your way to a more satisfying career, greater income potential and a more meaningful relationship with your clients.
Want to learn more about partnered independence? Contact Sanctuary Wealth today. Whatever your stage of readiness, our team of accomplished Advisors can share with you our insights and experiences to help you become better informed about various models for doing business as an Advisor today.
The scores provided above are solely for illustration purposes and the results set forth above do not constitute financial, legal or other types of advice.
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