Planning for a Bright Future

About Me

Planning for a Bright Future

When I graduated college, I landed a dream job teaching accounting at a university. For five years I enthusiastically taught my students important accounting principles. During this time, I put a significant portion of my paychecks into a retirement fund. Because I’ve always been extremely conservative with my finances, I invested all of my cash into money market funds. Unfortunately, this decision did not yield great results. Now that I’m older and wiser, I’d like to rectify the retirement mistake I made when I was younger. On this blog, I hope you will discover the best types of funds to include in your retirement portfolio. Enjoy!

Why You Should Start Using Independent Broker Dealers As An Independent Financial Planner

As a financial planner, your clients depend on you for advice and access to the best stocks and mutual funds. But what if your current set of financial products isn't quite getting the job done? Today, more and more financial planners are choosing to branch out on their own by working with independent broker-dealers. An independent broker-dealer may be able to provide you and your clients with access to additional financial products that might be a better fit for your current financial strategy. Here's how working with an independent broker-dealer as an independent financial planner can benefit you.

Going Independent Means No More Pushing Proprietary Products

If you've previously worked as a financial planner for a specific bank for a financial firm, chances are good that your company has asked you to push specific funds or investments to your clients. But in some cases, these financial vehicles might benefit your company but might not be the best choice for the customer. When you go independent as a financial planner and work directly with independent broker-dealers, you'll no longer be required to promote a financial product you don't believe in. You simply give your clients the best advice possible without worrying about your boss getting upset that you aren't hitting a quota for a certain type of investment.

You May Get a Higher Commission

It's true that going independent can free you from having to play by the rules of any one financial institution, but did you know it might also make you more money? When you sold a financial product or investment as a financial planner working for a specific firm, you likely got a decent commission, but you were also making money for your company. When you work with an independent broker-dealer when you are an independent financial advisor, all of the commission will go straight to you. This means you can now suggest the products you really believe in and will likely see higher returns for your customers while also getting paid more yourself.

More Sophisticated Funds and Products for More Sophisticated Customers

If you want to market yourself as a financial planner for the wealthy or sophisticated, you will need a set of investment options that are appealing to this group. While the basic funds you offered at your former financial firm were just fine for the everyday person, they might not be the best solution for a high-end investor. When you work with an independent broker-dealer, you can come up with a fund that has everything you want in it and nothing that you don't. You can create products designed to attract more sophisticated customers and the extra money that comes with them