Most consider “breakaways” as those that go away the wirehouse world in the hunt for larger freedom and adaptability and to create their very own impartial practices. It’s additionally widespread for these people to focus initially on natural progress, then contemplate acquisitions down the street.
The visitor on this episode took a special path, reminding us that breakaways don't all the time come from the wirehouses and may be extra centered on the larger image proper out of the gate.
In 2016, Chip Munn left regional dealer/seller Hilliard Lyons with a objective of discovering extra freedom to develop his enterprise and develop into different markets. So, he and his companions joined the impartial dealer/seller arm of Raymond James Monetary Companies. And since making the transfer, his agency, Signature Wealth Methods, has grown from $300 million in belongings beneath administration to $1.2 BILLION.
On this episode, Chip talks about his distinctive journey and their wonderful progress:
What he felt was most limiting at his agency—and the way shifting to IBD mannequin allowed him to unravel for these limitations.
Why they selected Raymond James—and the way expertise performed a job within the decision-making course of.
Why he and his companions selected to give attention to inorganic progress first—and what they wanted to do to organize for acquisitions.
And, finally, what everybody needs to know: What steps they took to speed up asset progress by 4X.
Chip had a need to construct a bridge for different advisors trying to be part of an impartial agency—and that he did, leading to a enterprise with phenomenal progress. It’s a real success story that reminds us that in a vastly expanded panorama, there's multiple path to independence.
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