In honor of Independence Day this 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!
Dany Martin: A few key things really helped us grow after going independent in 2015. First, we focused on putting clients first through proactive communication, being thoughtful with gifts and hosting events that actually mattered to them. Partnering with RFG Advisory was a big part of it too. They gave us the support and structure we needed to scale.
We also transitioned to a more defined, institutional-style investment strategy, adopted new technology to improve efficiency and hired the right people without all the corporate red tape. On top of that, we underwent a rebranding that was built around our own vision, instead of operating under a larger firm’s identity.
Martin: Since launching, we’ve taken a much more intentional approach to business development. We’ve worked with business coaches from day one, which led to new initiatives like our athletes division and leaning into RFG’s StrongHer Money platform for women.
Collaborating with other professionals has helped us deliver more holistic advice, and our marketing has evolved from one-off events to impact-driven brand building, including charitable work. We’ve adopted the mindset that it’s better to be found than heard.
Martin: I found that having the confidence that clients would see the value in our new model was more challenging than I anticipated. That ended up being more of a mental hurdle than a real one.
I also took a pay cut early on to reinvest in building something bigger, more sustainable and more meaningful for the long term.
Martin: My advice to any advisor considering the leap to independence is simple: don’t wait. Find a partner like RFG Advisory so you don’t have to figure it all out on your own. Take the time to really understand enterprise value, long-term cash flow, and the freedom that comes with owning your own time and vision.
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