4 Signs You’re Ready to Be a Financial Advisor Business Owner
Each year, tens of thousands of Financial Advisors either switch firms or make the leap to independence—with over 90% expressing “no regrets” over the decision. Still, countless other Advisors hesitate, unsure whether it’s the right move. The allure of steady pay, built-in infrastructure, and brand recognition keeps many Advisors tied to large firms, even when they’ve outgrown the model.
At RFG Advisory, we’ve guided 100+ Advisors through this transition, helping them turn uncertainty into opportunity. Read on to explore when it may make sense to stay within the traditional job market for Financial Advisors and key indicators that it’s time to step into full ownership of your business.
Evaluating the Job Market for Financial Advisors: When Does Staying Put Make Sense?
Many Financial Advisors start their RIA careers at large firms for two key reasons: (perceived) security and (theoretical) reduced responsibility. Large firms employ thousands of individuals and have existing infrastructure, which is particularly attractive if you are:
- New to the industry: Early-career Advisors often feel they need a recognizable name to build their book of business. They may be able to sign higher-value clients and build their reputation faster under the banner of an established player.
- Stressed about management: Large firms often take on the risk and responsibility of running a business. In some instances, they handle the complex operational tasks or monitoring the bottom line, which—at least in theory—frees the Advisor to focus on advising clients.
- Disinterested in legacy: Plenty of Advisors have little interest in “building” something and are happy to align with someone else’s vision for the business. They also might not intend to remain in the industry long, in which case factors such as creating enterprise value may be less important.
Related: Five Ways Advisory Firms Can Increase Their AUM
But as many Advisors gain experience, they begin to recognize the trade-offs. The very structure that once felt supportive can start to feel restrictive.
Four Signs You’re Ready to Go Independent
1. You’ve Outgrown Your Technology
Large firms often dictate the technology stack Advisors can use, limiting access to emerging tools that could improve efficiency and client service. In some cases, Advisors even pay extra to use proprietary software that may not be as effective as third-party solutions.
Related: Six Things Every Independent Advisor Should Demand from Their Home Office
The problem? Switching firms won’t necessarily solve this. Many RIA career journeys include moving from one firm to another only to face a different set of tech restrictions.
Ask yourself: What could I accomplish with the freedom to choose my own technology?
2. You’re Spending Too Much Time on Non-Revenue-Generating Work
Many Advisors hit a point where they realize they’re spending more time on paperwork and internal processes than on meaningful client conversations. At larger firms, deeper client relationships can be harder to build, especially if you’re pressured to push specific products or services.
Switching jobs might offer some relief, but it won’t eliminate the core problem—your time is still controlled by someone else’s priorities.
Ask yourself: How much stronger could my client relationships be if I focused on service instead of bureaucracy?
3. You Want to Take Home More of What You Earn
It’s only natural to question whether your compensation truly reflects the value you bring. If your clients are loyal to you—not the firm—shouldn’t you own your book of business?
A new job may offer a short-term pay increase, but it won’t change the fundamental reality: You’re building value for someone else.
Ask yourself: What would my income look like if I owned my business instead of splitting my revenue?
4. You Want a True Community, Not Just a Firm Culture
Many Advisors at large firms feel siloed, missing the opportunity to collaborate with like-minded professionals. You might feel your development is limited by a lack of real peer support or knowledge sharing—and start seeking it out elsewhere.
Ask yourself: Does my current environment support my long-term success, or am I outgrowing the culture?
Ready to Become a Financial Advisor Business Owner?
For many, going independent isn’t just about leaving a firm—it can also be about stepping into ownership, financial freedom, and growth opportunities.
At RFG Advisory, we help Advisors navigate every stage of this transition, from choosing the right technology and support structure to designing a business that aligns with your long-term goals. Whether you’re actively planning your next move or simply exploring possibilities, we’re here to guide you.
If you’re wondering how to become an independent Financial Advisor, let’s have a confidential, no-pressure conversation about what the future could look like for you. Schedule a call today.