Recently my firm Catalyst Wealth Management went through a transition into a different business model of the financial services industry; the Independent Model. Thankfully throughout this process we have maintained a great relationship with our previous Broker Dealer, kudos for their professionalism. Catalyst entered independence with a new Broker Dealer, Triad Advisors. Triad Advisors is a leader in the Independent Channel of financial services. So as we entered into the Independent space we were often asked; why are you making this change? A fair question since changing Broker Dealers is a quite cumbersome process. I had created a list of 16 reasons, but I will not bore you with the entire list. Our movement to independence primarily centered on three reasons:

Philosophy

We have always maintained this philosophy of putting our client first. This is central to how we think! Our leadership team felt that we could be more focused in this way being partnered with an organization that does not create any of their own financial products. This is the main objective of the entire independent business model.

Efficiency

As Christian business owners we must constantly monitor our stewardship of the resources and time that we are given. At Catalyst we want to create streamlined processes for our advisors. Processes including paperless environments and being less burdened with unnecessary management. This increased efficiency and structure allows for greater profitability and ownership for our advisors.

Marketing

The Independent Model allows for a firm to be just as the name implies Independent! This means the freedom to run your business the way that you want to run it, within the confines of industry regulations. Triad Advisors tag line states it as, Your Business, Your Way. So our firm is now marketing/communicating through social media and client events. Many of our clients have already expressed their appreciation for these new channels for conversation.

I am excited about the direction of Catalyst. We have already seen number of additional advisors who want to create this freedom within their practices. This change has placed us at the forefront of the direction of the entire financial industry. Again, it’s an exciting place to exist.

Friends, Clients:

Do you have any additional questions? Let me know if this was helpful or if we should discuss further.

Financial Service Professionals:

Could you benefit from the independent model described above?
Have you been thinking of independence?

What’s holding you back?
Is the business that you’re creating really yours?

Please leave your comments below