4 Best Articles to Read if You’re Considering Breaking Away
With the DOL’s new fiduciary ruling, now is a better time than ever before to take the plunge and become an RIA. But breaking away from a big brokerage firm isn’t easy. And for some, being a breakaway broker might not be the right fit. That’s why we here at Bridge have compiled some of best articles to read if you’re considering breaking away.
1. “Benefits of Independence”
This piece, created by TDA, explores the potential benefits that come with a career as an RIA. It’s a good read for those who are still unsure if the transition to an RIA is worth it.
2. “The Ballad of the Breakaway Broker”
In this blog post, Josh Brown, known as “the reformed broker,” explains the momentum of the breakaway broker movement. He explores the history of the industry, noting trends which have led up to many broker’s decisions to become RIAs. He also provides a “test” for those contemplating breaking away.
3. “9 Myths of Breakaway Brokers Becoming RIAs”
ThinkAdvisor busts nine myths that may be holding you back from becoming an RIA. They even cite that, on average, advisors transfer 90% of targeted assets when breaking away.
4. “Is Going Independent all it’s Cracked up to Be?”
This article by PlanAdviser chronicles the journey of Doug Prince, a former wirehouse broker who left to start his own RIA. It explores his struggles and triumphs, and gives a personal perspective into weighing the pros and cons of breaking away.