Why an Independent Financial Advisor is Best For You
Many financial advisors work for big banks, brokerage firms or insurance companies. Increasingly, financial advisors are shifting to work in independent financial advisory firms that are free from the bureaucracy and potential constraints of a large corporate environment. And many consumers are discovering the benefits of this independent business model.
Client Interests First
Within large corporate environments, clients’ best interests can sometimes come second to firm profits and the influence of public shareholders, layers of management and affiliated companies. Because independent financial advisors generally avoid these complications, the advisors can more clearly focus on their clients’ best interests.
Customized Solutions
Independent advisors are not limited to any particular investment or insurance products. And independent financial advisors have significant flexibility in the types of clients they serve and the way they deliver services, which may provide clients with a more personalized experience. For example, some people may need financial advice or coaching but, at least for now, not investment management or a financial product.
Longer and Deeper Relationships
Often independent advisors have ownership in their firms and are less likely to leave for another opportunity, which is quite common when advisors are employees of a large company. As a result, independent advisors and their clients are more likely to develop longer-term and deeper relationships.