Owning an independent RIA offers many rewards. You get to work with the clients you want to work with, receive a greater percentage of revenue, and as long as you remain compliant, you have autonomy to do things your way. Yet many financial advisors struggle to maximize the greatest reward that owning their own firm has to offer... You hold an asset that has the power to change your financial future!
In this episode, I discuss the expense benchmarks for the industry. Similarly, I discuss the impact of how you prioritize spending in your firm, as well as the importance of having financial controls in place. Although I'm speaking directly to financial advisors, many of the principles I cover can be directly applied to businesses across multiple industries. So, don't miss out!
This week on The Financially Simple Podcast:
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(0:45) The "Eight Figure" Exit
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(2:30) Are You Tired of Feeling Broke As a Financial Advisor?
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(5:03) A Byproduct of a Lack of Pure Data
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(7:35) Moving Away From Brokenness/Facing Contentment
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(8:51) Industry Averages
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(12:14) How Do You Relate to the Industry Revenue Averages?
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(16:25)
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