Excerpted from “The Mindset Shift”, by Frank LaRosa

The financial services industry has continued to see a pull towards independence for advisors and the trend certainly shows no signs of abating. With last year’s taste of freedom due to work from home measures from COVID-19 restrictions still fresh in every advisor’s mind, the independent shift in advisor thinking has only accelerated. The seed of entrepreneurship has been planted and how each advisor evaluates the independent opportunity for themselves will help them chart their future course.

In fact, the move to independence signifies what should be considered a seismic shift in the financial services industry as whole, the effects of which are only just starting to be realized. While the most recognized is the impact independent models are having on firms, resources, and technology within the industry, one of the subtler points to note is the mindset of the advisors drawn to independent models. They are each aspiring entrepreneurs in their own right, and the factors that brought them to independence and this pivotal moment in financial services history prove both lesson and guide at the same time.

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