Shawn K. Smith is the Principal of Financial Advisor Placement Services and founded it in 2009. Shawn has 23 years of investment industry experience and has worked directly with Financial Advisors during this time. Prior to founding Financial Advisor Placement Services, he worked at Ameriprise Financial as the Recruiting Manager for the Northeast. Before Ameriprise, Shawn worked as a Vice President of Sales at Sun Life Financial, in Wellesley, MA. Shawn was Assistant Vice President of Sales for Pioneer Investments in Boston and a Wholesaler at North American Funds in Boston in the late 1990’s. Shawn holds an MBA, from Bentley University and a BA in Economics from Princeton University.
Going independent has its advantages if you are ready to take the challenge. Running your own business takes a certain initiative and provides many challanges that will be very rewarding. These rewards include:
You control your own destinity.
You have the freedom to name and brand your own practice.
You have your own goals and work schedule. You are no longer under corporate america’s control.
Your payouts increase, from 25%-45% at the wirehouses to 70%-95% at the independent firms. You have control over what expenses to incur to grow your business.
As a 1099 independent contractor, you enjoy all of the benefits of writing off your expenses against your firm’s revenue to determine the net income. The federal government are providing some attractive incentives for small businesses in the 2011 tax code, so you can be more competitive.
Building Equity in your practice. You now own your book and can sell it if you want to retire or get out of the business. Your practice can be your biggest asset broker dealers.
Book mobility: If your Broker-Dealer doesn’t live up to their end of the bargain, or if the needs of your practice no longer match that of the firm you can switch to another firm that is more suitable.
You can decide to keep your firm small or grow it to a larger size by recruiting other advisors and offering additional services & Independent broker dealer list.
Financial Advisor Placement Services is the premier financial advisor placement firm, that specializes in representing only financial advisors. There is no cost to the Advisor!
The reason why advisors go with us is because of our industry relationships, knowledge and high touch professional service. Most of our advisors thank us for helping them find a new broker dealer, and we tell them that we are just doing our job, which is helping advisors succeed!
Many Wall Street brokerages and independent broker dealers are undergoing tremendous change. The wirehouses continue to cut payouts and increase account minimums, while multiple mergers are consolidating the independent broker dealer landscape. The DOL’s Fiduciary Standard. Many of the Insurance owned broker dealers are increasing production requirements and forcing proprietary sales. FINRA has become more over-bearing with increased rules and regulations. Improved technology and wealth management platforms are improving the independent broker-dealer model.
Financial Advisor Placement Services is the premier financial advisor recruiting firm, Independent broker dealers & Independent broker dealer payouts that specializes in placing only financial advisors.There is no cost to the Advisor!