Simplifying the Path to Becoming a Fee-Based Advisor

More advisors and firms are moving to fee-centric affiliation models, dropping their FINRA registrations and focusing on providing investment advice for a fee. What is the driver behind this trend? Today, we’ll explore the models under which an advisor could move to a fee-based practice, the benefits, the changes from a product and compensation perspective, and the key considerations for those considering this move. The three main ways an advisor could move to a fee-based model are becoming an investment adviser representative of a corporate RIA (like Commonwealth), starting their own RIA, or joining an independent RIA. At the end of our conversation, I hope to illuminate the differences between those models and what you should focus on if you are considering a change in your affiliation model.

Show Resources

Here are some links to learn more about Alex and Commonwealth Financial Network:

• Commonwealth’s new guide: How to Navigate a Fee-Only Path (commonwealth.com) - https://crmsf.commonwealth.com/going-fee-only 
• Learn more about Commonwealth: Affiliation Flexibility | Be the Independent Advisor You Want to Be (commonwealth.com)- https://www.commonwealth.com/advisor-solutions/affiliation-flexibility

What is Gaining Perspective?

This podcast is hosted by Advisor Perspectives, one of the leading publications for financial advisors. Our podcast series brings you short interviews with top thought leaders in financial advice, planning, investments and economics. Each episode focuses on a specific issue facing financial advisors. Listeners will learn the key trends affecting the way they and their competitors operate and the steps advisors can take grow their practices and deliver better service to their clients.