New Year, New Direction: Why Owning Your Practice is the Best Move Yet

As we enter the new year, it’s the perfect time to reflect on where you’ve been, where you are, and—most importantly—where you’re headed. If you’re considering your next big career move, I’ll admit it…I’m biased.

I’m biased toward financial advisors owning their practices.

Why?

Because ownership isn’t just about autonomy or freedom—it’s about transformation. It’s about building a life and business on your terms, creating a legacy that can’t be taken away, and stepping into a new level of control over your future.

Here’s why I believe owning your practice is the most empowering career move you can make:

1. Autonomy and Freedom

When you own your practice, you call the shots. You’re no longer subject to the rigid rules, conflicting corporate priorities, or one-size-fits-all mandates (or compliance rules) of a captive firm.

You choose how to serve your clients, how to structure your day, and how to invest in your business. This freedom is transformative, allowing you to align your work with your values and goals—not someone else’s.

2. The Joy of Steering Your Own Ship

There’s something deeply fulfilling about knowing you’re in the driver’s seat. Owning your practice means you’re not just participating in someone else’s vision—you’re building your own.

Every client relationship you nurture, every team member you develop, and every milestone you reach is a direct reflection of your leadership and effort. The pride and satisfaction that comes from steering the boat in the direction you’ve chosen can’t be overstated.

3. Security Through Ownership

When you’re tied to a captive firm, your business is never truly your own. Policies can shift, leadership priorities can change, and in some cases, a single misstep—or even a shift in the firm's strategy—can jeopardize everything you’ve built.

Ownership changes the game. It gives you the security of knowing that your business, your clients, and your future are firmly under your control. True independent firms don’t “seize” or redistribute your clients to other advisors within their network—a tactic often used by captive firms. Even in challenging situations, independent firms typically allow advisors time to transition their practices elsewhere.

This peace of mind is invaluable. It frees you from the constant worry of shifting policies or leadership dynamics and allows you to focus on what matters most: growing your business, serving your clients, and building a legacy on your terms.

4. Creating Multi-Generational Wealth

Ownership isn’t just about today; it’s about securing your future and creating opportunities for generations to come. By owning your practice, you’re building an asset that not only grows in value but also provides for your family and enables you to leave a lasting legacy.

Whether your goal is to sell your practice one day, pass it down to a family member, or partner with your team to ensure its longevity, the wealth and security generated through ownership can extend far beyond your lifetime.

Let’s put this into perspective. When you own your practice, your business becomes a tangible asset on your personal balance sheet. For example, if you’re an advisor managing $100MM in AUM and generating $1MM in annual revenue (based on an average 1% client fee), your business is conservatively valued at 3–5x revenue. That means transitioning to independence instantly adds $3MM to $5MM to your net worth—simply by owning your practice instead of being tied to a captive firm.

Ownership transforms your business from a job into an asset—
a cornerstone of financial security and multi-generational wealth.

5. You don’t have to go it alone.

Breaking away and starting your practice can feel overwhelming, but you’re not treading new ground. Many advisors have successfully made this journey with the right support.

Experienced professionals, like me, can guide you through evaluating options, negotiating deals, and managing the logistics of your transition. From navigating what it means to have a non-solicit to communicating with clients, expert help ensures you have the right mindset, the client transition is as smooth as it can be, and that you’re working efficiently.

With the right guidance, breaking away is a journey of empowerment. You can avoid costly mistakes, gain confidence, and build the practice you’ve always envisioned.

Let’s Make This Your Year of Transformation
The start of a new year is the ideal time to think about transformation. What’s holding you back? What would your career—and your life—look like if you took the leap into ownership? Could your personal balance sheet increase by the end of 2025?

If you’ve ever thought about breaking away, let this be the year you take control of your future. Let this be the year you stop building someone else’s business and start building your own.

I’m here to help. From evaluating your options to negotiating deals and executing a seamless transition, I’ll be your guide every step of the way.

Ready to explore what ownership could look like for you? Let’s talk.