Working as an independent advisor is the career path you want to take but your concerns about turning independence from a goal to a reality are mounting. Do you have enough revenue to support such a move? What steps do you need to take to get started? How do you finance an office so you don’t have to work from home? Will running the office take away from your revenue producing activities? The fact is these concerns and more can be assuaged by choosing a Plug-N-Play office with an independent firm to chart your new path.
Many established boutique and large independent firms have offices that an independent advisor can move into without having to become a partner in the firm or practice. Although choosing this option might result in a slightly lower net payout than opening your own office, many times the overall financial benefit can actually be greater than if you chose to finance 100% of the support, technology, rent, and utilities it customarily takes to set up office space. This doesn’t even take into consideration the opportunity cost and time saved by not having to deal with the day to day issues of running the office. Quite simply, some advisors are just not cut out to handle the management side of running an office.
There are other strategic benefits to Plug-N-Play offices, beyond the financial ones, which also make the solution a compelling one for newly independent advisors. Advisors who don’t want to start from scratch when launching their business as an independent practice will appreciate the continuity of an office environment and resources a Plug-N-Play office will provide. Additionally, the mental transition of leaving a retail/W-2 model is smoother and easier when you are simply dropping in to an existing office where the computers are working, phones are hooked up, systems are operational, the scanner and printers work, and the office is simply up and running.
Even better, Plug-N-Play office locations offer flexibility. An advisor can always secure their own office space at a later date when they become more confident – and financially stable – in their role as an independent advisor practice.
So, don’t let misgivings about office space expenses and the hassles of running an offer deter you from seizing the opportunities of independence. Plug into your future now by using Plug-In-Play independent office opportunity.
For more information on Elite Consulting Partners, their complete suite of services, most recent moves, or strategic advice that can help you, visit www.eliteconsultingpartners.com.
