Most consider “breakaways” as those that depart the wirehouse world searching for higher freedom and suppleness and to create their very own unbiased practices. It’s additionally widespread for these people to focus initially on natural progress, then contemplate acquisitions down the highway.
The visitor on this episode took a special path, reminding us that breakaways don't all the time come from the wirehouses and will be extra centered on the larger image proper out of the gate.
In 2016, Chip Munn left regional dealer supplier Hilliard Lyons with a objective of discovering extra freedom to develop his enterprise and broaden into different markets. So, he and his companions joined the unbiased dealer supplier arm of Raymond James Monetary Providers. And since making the transfer, his agency Signature Wealth Methods has grown from $300 million in belongings underneath 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 transferring to the unbiased dealer supplier mannequin allowed him to unravel for these limitations.
Why they selected Raymond James—and the way expertise performed a task within the decision-making course of.
Why he and his companions selected to concentrate on inorganic progress first—and what they wanted to do to organize for acquisitions.
And, finally, what everybody desires 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 unbiased agency—and that he did, leading to a enterprise with phenomenal progress. It’s a real success story which reminds us that in a tremendously expanded panorama, there may be a couple of path to independence.
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