05.30.24

Schwab Study Explains Forces Behind Advisor Moves to Independence

by: Gregg Greenberg

According to a survey by Schwab Advisor Services (SAS), both advisors considering a move to independence and their recently independent counterparts highly value the ability to “shape their own businesses.” Among those who have recently become independent, 98% said having the ability to provide more personalized service was a leading motivator for breaking away. Among those still considering independence, the same percentage said they are seeking the ability to align their business to their personal values, the report said. “Though the path to independence continues to evolve in new and surprising ways, one thing remains the same: Advisors seek independence because it offers them the freedom to build their business, their way," said Jon Beatty, chief operating officer at SAS. "They are motivated to offer more comprehensive and product agnostic services, and all with their clients’ best interests at heart."

Read the full article on InvestmentNews