In honor of Independence Day next week, InvestmentNews is reaching out to a number of financial advisors to learn their personal “independence stories.” Of course, wealth managers leaving an investment bank or wirehouse to operate on their own is a different type of risk than the mortal dangers faced by America’s Continental Army when they split off from King George III. Nevertheless, the entrepreneurial spirit is very much part of the essence of America and what makes the country - and its financial system - the envy of the world!
Wittjohann: We launched Premier Path Wealth Partners in 2023 after breaking away from a major wirehouse. Since then, we’ve experienced meaningful growth — not just in assets under management, but in the depth of our client relationships. We’ve grown 33 percent last year in both revenue and assets, and expect this to continue. Nearly all of our clients made the move with us, and we’ve added new families as well — many of whom were specifically drawn to our independent structure.
Being independent has allowed us to offer services and have conversations we never could have had at the large wirehouses and has been a huge driver of growth. We've seen growth fueled by alignment: our clients are entrepreneurs and appreciate that we’re also entrepreneurs who can relate and speak to challenges they’re facing.
Wittjohann: One of the most effective strategies has been staying grounded in who we are and who we serve – moving from a “generalist” to a “specialist” and creating our business to uniquely serve business owners and multi-generational family wealth. Our clients are wealth creators and business owners who have also taken the entrepreneurial journey. They appreciate a firm that shares the same values as they do: grit, resilience, growth-mindset, and emphasizes family and legacy. We’ve leaned into that ethos — from how we communicate to how we build portfolios.
We also focused early on relationship continuity and trust. We made sure clients felt comfortable with the transition and understood the “why” behind it. Hosting events, regular check-ins, and being transparent about our process helped strengthen those bonds. Additionally, we invested in the infrastructure that allows us to offer white-glove service without the red tape.
Wittjohann: Business development now feels more personal - and more authentic. At the wirehouse, there were production goals and firm-driven metrics. Becoming clear on our target market and building the firm around the needs of multi-generational wealth and business owners has given us a story we’re passionate to share. We’ve been able to add strategies, services, and investments that are uniquely curated for these clients. The story resonates much deeper with clients and organically results in further opportunities. Word-of-mouth referrals have become more powerful than ever. Clients who saw us take this leap have become some of our biggest advocates. We’re building something with purpose, and that story naturally attracts others.
Wittjohann: The biggest challenge was uncertainty - not knowing how clients would respond when we told them we were going independent. We expected pushback or hesitation, but what we found was the opposite: support, encouragement, and even admiration. Clients appreciated that we were willing to take control of our destiny.
Still, the process of transitioning everything - the legal, the operational, the emotional - was intense. We overcame it by leaning on each other, overcommunicating with our clients, and staying focused on the end goal: building something we believe in.
Wittjohann: The clients will always follow. Have confidence in that. Independence isn’t easy - it comes with risk and responsibility - but it also comes with unmatched freedom and alignment. My advice is to be intentional, prepare thoroughly, and surround yourself with the right partners. And once you make the leap, don’t look back. Clients respect authenticity and conviction — and when they see you doing it for the right reasons, they’ll follow.
While unveiling new portfolio management and direct indexing tools for RIAs, Betterment's Devon Klumb said the firm's advisor referral pilot is intended to convert retail users into RIA clients as their financial needs become more complex.
Dynasty advisors gain access to white-label fund solutions and relationship pricing as two firms cement long-term build-out.
The AI prospecting startup expands beyond individual advisors, targeting centralized marketing groups at firms with large home offices.
With a 25% revenue share and $250,000 client minimum, Robinhood Advisor Network pitches a mobile app-based client-to-advisor match pipeline at it plans to soon expand from 16 to 60 independent advisors.
New data from FINTRX show breakaway teams and M&A powering the next generation of mega-firms, with Wisconsin emerging as a dark horse on the state-level leaderboard.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
