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Surveying recently independent advisors and those considering the transition
Research - MAY 31, 2024

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Surveying recently independent advisors and those considering the transition

by Lewis Dayton

A recent survey of advisers who recently went independent or are considering the transition to independence. Conducted by Schwab Advisor Services, the survey found advisers currently considering independence are more likely to join or affiliate with an existing registered investment adviser (RIA) (44 percent) than to create their own firm (31 percent).

Advisers surveyed indicated they are most likely to use their personal savings to support their transition to independence, with 69 percent of recently independent and 56 percent of considering advisers saying this was/is their preferred route.

The survey also found the process of going from considering to transition can be lengthy for advisers, with 41 percent of recently independent advisers saying they spent between one and three years making the decision to transition to independence.

However, once they were ready to make the leap, 83 percent were able to complete the transition in less than a year.

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