If you are considering going independent, Charles Schwab has an interesting new survey for you. Thousands of advisors have been flowing out of wirehouses and large regional brokerages over the last few years. They have either gone completely independent or joined independent broker-dealers. In either case, a new survey from Charles Schwab shows that such advisors are very happy. In fact, 90% of advisors who have gone independent report that they have no regrets about their choice to go it alone.
FINSUM: The reality is that most advisors say that whether you become an RIA or go to an IBD, you can serve clients better and make more money at the same time. The general opinion is that with an RIA you lose a lot of structural support, but you keep everything for yourself; while with an IBD you keep more structural support and still get much higher payouts than at a wire.