Constancy introduced Tuesday that’s has created a brand new instructional platform referred to as the Independence Hub to assist advisors navigate the decision-making course of and find out about the advantages and challenges of breaking away.
The agency describes the brand new hub as “a central location for insights, instruments and sensible steps to assist advisors on their path to independence, together with actionable guides for every part of their journey — consideration, transition and development.”
Why it issues: As ThinkAdvisor has beforehand reported, there’s a notable groundswell of monetary advisors rising weary of working their advisory practices inside the conventional wirehouse and banking channels. When an advisor is at a wirehouse, they’re typically captive by way of the merchandise they will use and the strategy they will soak up serving shoppers.
Advisors might want independence and the advantages related, Constancy suggests, however they typically lack key data and should worry the unknown.
The truth is, a survey revealed by Constancy to mark the hub’s launch exhibits solely about half of advisors take into account themselves educated about agency varieties (54%) and independence fashions (49%), whereas solely 25% know the varied intermediaries — e.g., third-party recruiters, consultants, clearing or custody suppliers — that may assist with discovering a agency.
What to know: Based on Constancy’s announcement, the agency drew from its expertise in enterprise improvement, observe administration, know-how and funding consulting to develop a collection of sources to assist information advisors via the varied levels of independence and to higher inform their selections.