A massive structural shift is underway as advisors leave traditional brokerages for independent RIA platforms, with billion-dollar breakaway teams now commonplace and virtually no one returning to wirehouses. 

The appeal starts with compensation: independent advisors often keep 60–65% of revenue versus 40–50% at big firms, while also gaining ownership, equity value, and access to record-high valuation multiples that can approach 20x EBITDA. Client demand accelerates the trend, as families increasingly prefer the transparency, personalization, and multi-custody flexibility that independent RIAs offer, features once reserved for ultra-wealthy family-office clients. 

The independent channel has also matured, evolving into a landscape of large, professionally managed enterprises with advanced technology, acquisition resources, and digital onboarding able to transition billions in weeks. 

Finsum: With rising valuations, regulatory tailwinds, and private capital flooding the space, independence is no longer a fringe option.