Considering going independent?

Independent advisors can benefit by hearing the experiences of others who have made the transition. At the IMPACT® Conference, the industry’s largest independent advisor event, advisors have the opportunity to network, connect with their peers and learn best practices.

What convinced other advisors?

What were some of the factors that influenced other advisors in deciding to go independent? What’s the average profile of an independent advisor? Hear one advisor talk about what convinced him to pursue independence, and view a profile of another who recently made the move.

Factors that influenced one advisor’s move to independence

In 2003, The Golub Group started their own firm. At the recent IMPACT® Conference, we checked in with Colin Higgins, one of the founders, to hear his thoughts about going independent.

“It’s been fantastic. You know, we carved our business out of a broker-dealer, myself, and my partner, and we’ve really had some great growth, and a lot of great freedom as an independent firm and an independent organization. Plus, the Schwab IMPACT® Conference gives us the ability to meet with colleagues and peers in an environment where people are open. They’re excited and they’re passionate about their business, and they are willing to share what they know. It’s not a competitive situation out there.”

Listen to why one advisor went independent

Reasons for going independent

The realities of owning a business

Why Schwab


Profile of one independent advisor

While good candidates for going independent generally share a strong entrepreneurial spirit and a deep commitment to serving their clients, they also have a wide range of characteristics. Here is the profile of one, John Krambeer, President of Camden Capital Management, LLC. After sixteen years working for a large wirehouse and building one of the largest wealth management practices in the western United States, he launched his own firm in 2003.

What’s the average profile of an advisor going independent?

Profile: John Krambeer, Camden Capital Management, LLC

 

Reasons for going independent

  • Outgrew the platform of former employer
  • Needed to provide greater value to clients
  • Wanted to build a superior wealth management platform

Description of new independent firm

Camden provides unbiased investment advice and services to wealthy families, offering an open-architecture platform and value-added services including wealth enhancement, wealth transfer, asset protection, charitable giving, estate planning and trust services.

Target client

  • Ultra-high-net-worth families, with household assets of $5 million and more
  • Currently working with 25 families with $180 million AUM as of October 1, 2006

Growth strategy

  • Pursue ultra-high-net-worth clients, appealing to them with a full range of planning and personalized services
  • Grow via referrals, direct marketing and relationships with strategic partners

Highlights of being independent

  • Offering objectivity and fee-only wealth management services
  • Never losing sight of the client’s best interest
  • Providing clients with greater transparency and offering a broader product set than possible at a wirehouse

Testimonials may not be representative of the experience of other advisors and are not a guarantee of future success.

The mention of the above consulting firm is not, and should not be construed as a recommendation, endorsement or sponsorship by Schwab. This firm is not affiliated with or an employee of Schwab. You must decide whether to hire any firm and the appropriateness of their services for you or your firm. Schwab does not supervise third party firms and takes no responsibility to monitor the services they provide to you.