As a financial adviser making your way in this industry, you could dream of establishing your own firm. Perhaps you have already set up your own business, and are deciding on your next steps.
At Corbel Partners, independence is one of the cornerstones of our enterprise. As a network that works solely with independent financial advisers (IFAs), we pride ourselves on nurturing professionals who are committed to putting their clients first.
While restriction can have benefits for some advisers and firms, we believe independence provides far greater scope for both professional development and adding value to clients.
Independence could be the right choice for you if your professional goals include:
- Prioritising your clients’ needs above commercial interests
- Tailoring your advice to each client’s life goals
- Helping people to achieve financial freedom without restriction
- Offering unbiased advice based on your own research, qualifications, and experience.
Read on to find out why we are committed to independence, and how choosing this route could benefit both your firm and your clients in the long run.
Independence lets you provide a truly bespoke service
One of the most attractive aspects of running an independent firm instead of a restricted one is the quality of service you can provide to your clients.
Running an independent practice means you can recommend any product available, rather than shoehorning clients into an off-the-shelf solution. So, rather than acting as a “salesperson” recommending a product from a list, you can pursue the outcome that you believe will truly benefit the client.
Here at Corbel Partners, we are an independent business. This means we are in full control of the company’s destiny, and are not beholden to shareholders, private equity, or any other stakeholders.
This means that any adviser within our network is free to use whichever wrap platform that’s best for their clients. In addition, we don’t have our own DFM, which allows advisers within our network to tailor bespoke solutions.
What’s more, it’s important to note that for us, the word “independence” surpasses the regulatory definition.
Indeed, independence is not just about the freedom to advise however you choose; it should also shape your mindset.
Investing in your independent professional development – including further training and qualifications, branding your business towards your specific clientele, and working to establish trust in client relationships – means you can think and act independently, as well as just calling yourself “independent”.
Nurturing relationships without restriction can help you add significant value to clients’ lives, and free you of your obligation towards biased corporate interests too.
Independence can help you market your firm more effectively
While you know the value your advice can add to your clients’ wealth, sometimes it is difficult to bring that across in your marketing. You need an iron-clad marketing strategy to help convey your brilliance to prospective clients and maintain strong relationships.
It is important to remember that today’s financial advisers, both restricted and independent, all have impressive qualifications and experience to boot.
So, when marketing your firm, you need to highlight what you can offer to clients above and beyond your core qualifications – and that’s where independence truly sets you apart.
When creating a marketing strategy for an independent firm, you have the freedom to:
- Emphasise the bespoke nature of your services
- Use client testimonials that describe how you tailor your services towards their needs
- Advertise your unbiased access to the entire market
- Show that you serve the client, not your company’s commercial interests
- Establish a holistic, client-centred brand.
On the other hand, a restricted firm will struggle to market their services as effectively. These advisers face difficult roadblocks, including:
- Being unable to review a client’s existing portfolio of products
- Having a limited set of options clients can choose from
- Stakeholders creating bias around advisers’ guidance
- Their own commercial interest in recommending certain products to clients.
By setting your firm apart from restricted financial advisers, you can build a client journey that attracts individuals both with significant wealth and who know what their goals are.
Being part of an independent community can help you stand out from the crowd
No adviser, restricted or independent, can go through their career alone. All financial professionals can benefit from tapping into a core community of individuals and firms that share your experiences, good and bad.
Whether you are looking to become independent or work within a larger firm, or you run your own independent operation already, joining our Corbel Partners network could help revolutionise your practice.
Like you, we are committed to adding value where it is needed most – without the restrictive biases of stakeholders holding us back.
To learn more about joining us, or for a holistic conversation about the benefits of independence, get in touch today.
Email firstname.lastname@example.org or call 01925 637891.