Independent Financial Advisors are CEOs

Independent Financial Advisors are CEOs Going independent means you are ready to be a true entrepreneur. Being the CEO of your own financial business is a dream come true for those who don’t want to conform to the big wire houses or answer to anyone. While this avenue isn’t for everyone, every day financial advisors seek out to become their own CEO. 

Complete independence provides great opportunities for advisors seeking to be their own boss, becoming a business leader and building their own business model in complete freedom and with flexibility.

Starting your own business and serving as CEO is simple, but building a business which endures early growth hiccups, and withstands difficult economic periods require diligent work and discipline. Before you jump, it’s important to plan. Below are the steps you should consider taking on your road to being CEO.

Step 1: Write a business plan developing your business idea into a viable service company which understands its target market and how to reach those clients.

Step 2: Forecast start-up costs, annual operating costs and potential revenues. Check with leasing companies for office or retail space. Speak with contractors and developers regarding costs of renovations, product development and engineering. Estimate how many employees you will need and the costs associated with those employees.

Step 3: Choose your broker-dealer. One of the biggest concerns associated with forming your own independent practice is the fear that if you change your broker-dealer, your clients will leave you. Business has always been and will continue to be all about relationships.

Step 4: Choose your company name. Search the county clerk’s name database, as well as the Secretary of State’s database to ensure no one else is using your company name.

Step 5: File the necessary paperwork with the Secretary of State’s office.

Step 6: Obtain proper tax registrations. Contact local state revenue boards for state registrations and business permits and licenses.

Being independent does not mean operating alone. Choosing the right broker-dealer is very important to the success of your business. Summit Brokerage offers a platform which allows you to grow your practice the way you want to.

Offering the personal touch of an exclusive boutique broker-dealer coupled with the resources and services of the largest firms in the industry, Summit provides the support, services, products and leading-edge technology you need to build a successful business. As a Summit advisor, you enjoy the freedom and control of being your own CEO while at the same time benefiting from the best support structure in the business.

You’ll have access to one of the most comprehensive collections of programs and services in the industry, designed to allow you to gain the maximum result from your efforts. Summit Solutions covers everything you need to run a successful practice including practice management, technology integration, research, financial planning, client management, education, advisory services, succession planning and more.

Training programs feature nationally known business and financial experts who offer insight on the industry, along with issues which are likely to affect your business, and because so much of what successful advisors learn comes from other advisors, many of the training programs offer designated peer-to-peer networking sessions.

Summit also provides you with a wide range of solutions which have proven extremely effective to run a more efficient and profitable practice, including: wealth reporting tools to help establish connections and build relationships; website development; promotional and marketing material support, including pre-approved ads, prospecting letters, ghostwritten articles, radio scripts, seminar support and more; professional partner development; and state-of-the-art CRM solutions.

A big plus: Summit is product neutral. You are not pushed to sell any particular product. As an advisor, you have the finest products in the industry available to you, and you get to decide which is best for your clients and your firm.

To learn more, call 866.341.9285 to speak with a Business Development Associate or visit

This blog and website are for informational, educational and discussion purposes only, and the owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Summit Brokerage Services, Inc., Summit Financial Group Inc., and any of their affiliated entities and principals are not a law firms or an accounting firms, or substitutes for an attorney or accountant. Although topics may be discussed on this blog that may involve legal, accounting, or investment issues, nothing on this blog shall be deemed to constitute the practice of law, legal advice, investment advice, and/or tax advice. Summit Brokerage Services, Inc., and its affiliates do not, and cannot provide any kind of advice, explanation, opinion, or recommendation about possible legal rights, remedies, defenses, options, selection of forms or strategies. The content on this blog is “as is” and carries no warranties. You should consult an experienced professional regarding tax consequences of specific transactions.

No reader should act in reliance on anything discussed in this blog without prior consultation with a licensed professional who is qualified to evaluate the reader’s individual facts and circumstances and offer an informed professional opinion with respect thereto. If any reader takes action or makes decisions based solely on the information on this blog without prior consultation with a qualified, licensed professional, the reader does so at his or her own risk and agrees that Summit shall have no liability resulting from such unilateral action or decisions by the reader.

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