From Pro Sports to Fee-Only Advisor, Nate Cloutier's Path to Independence

IN THIS ARTICLE

• Fee-Only Fiduciary
• Independence, a Liberating Experience
• What LPL Offers

Nate Cloutier is no stranger to taking leaps of faith. His first leap led him from studying business at the University of Vermont to volunteering with the U.S. Track & Field team in Australia as they trained for the 2000 Summer Olympics. His ability to connect with the athletes and staff, as well as his creative thinking, opened the door to an internship back in the U.S. with Vermont's Minor League baseball team, which culminated in an 18-year career in professional sports.

But during the Covid pandemic in 2020, Nate began wondering if it was time to revisit his earlier interest in finance. As a husband and father of four with an established career, the stakes were high. "I spent a lot of time thinking about what I loved to do, what I didn't like to do, what I was good at, and what I could leverage from two decades of experience in this business community," he said.

He also leaned on the support and experience of his brother-in-law and LPL Financial advisor, Gregg Patenaude, of Patenaude Wealth Management. "Gregg was instrumental in pointing me in the right direction, whether it was a pivot into wealth management or going out on my own. He saw something in me, and I am forever grateful for his constant guidance and support."

A Fee-Only Fiduciary, Backed by LPL

After careful consideration, Nate took another leap of faith and became a fee-only advisor at a Vermont-based RIA. "I did a lot of research, and I knew I wanted to be a fiduciary. I didn't want to be seen as someone who had something to sell. People want to be heard and seen; they don't want to be sold to. The only thing I wanted was for someone to buy into the process of building their long-term wealth. I wanted to be there to provide customized, transparent advice on the other side."

Three years in, it was clear that Nate would need to take one more leap to continue growing his business. "I had a vision for how I wanted to build my business. I wanted to build something special for my clients, for myself, and for my family. I knew that I needed to control my own destiny and build the best team around me to get there."

He found his team at LPL. "I went out on my own knowing that I wouldn't be alone. By joining LPL Financial, I knew that I had the pieces in place to create a top-notch client experience and practice that would allow me to focus on my skillsets and the needs of my clients, giving me the ability to develop a distinguishable value proposition."

As a fee-only advisor on LPL's RIA, Nate could leverage LPL's custodian and RIA for things like compliance support and risk management. "At LPL, I have access to a la carte options like Model Wealth Portfolios. Deploying all these efficiencies allows me to focus on my skillsets and make sure my clients have the best experience possible."

Although Nate was initially anxious about the transition, LPL's onboarding team made the experience easier than he expected. "Before, I was custodied with Fidelity and Schwab, so I was apprehensive about making the move. I was concerned about the repapering process, but LPL's onboarding and transition teams made it simple so I could focus on having the conversations I needed to with my clients, grow my business, and surpass my goals."

A Liberating Experience as an Independent Financial Advisor

Nate's latest leap to building Cloutier Wealth Management fulfilled a lifelong dream of owning his own business. "I've worked for other people for over 20 years and it's just so rewarding to work for myself and reap the reward of those benefits."

It's also a family legacy he hopes to pass on to his kids. "Growing up, my father owned a contracting business, which gave him flexibility to coach little league and always be there with my mom, my brother, and I. He wouldn't have been able to do that if he hadn't owned his own business. I tell my kids, 'If there's one thing I wish for you, it's that you own your own business.' I want my kids to see that you can do something on your own to be proud of."

What advice would Nate give other advisors who are looking to gain more autonomy over their fee-only business? Don't be afraid to take the leap. "Your new business doesn't need to be perfect; you just need to start. This is a relationship business and people want to do business with people they like and trust. Show clients that it's legitimate through a beautiful website, an email that works, and a full set marketing materials that will give you an opportunity to tell your story. As time goes on, make adjustments that will allow you to grow your business."

"If the vision you have for your client experience is different than the situation you're currently in, chase your dreams and lean on the support and resources that LPL has to offer. I am thrilled that I did, because I'm not sure I've ever experienced this sort of liberation."

What LPL Offers Advisors Like Nate

Behind every successful advisor transition to an independent RIA is a robust infrastructure that makes independence not just possible — but sustainable. For Nate, that was LPL. Here's a glimpse of what it looks like:

Custody and RIA support. With LPL handling this, it allows fee-only advisors to operate with full independence and full ownership of their advisory business. You can focus on delivering fiduciary advice, deepening client relationships, and growing your practice — rather than getting pulled into back-office complexity.

Compliance and risk management support. This is one of the most meaningful advantages of LPL's fee-only platform. Rather than bearing the full weight of regulatory oversight, you operate within a team-backed compliance model that helps keep your practice protected, properly documented, and ready to scale.

Onboarding and transition support. LPL's dedicated teams specialize in making the transition as smooth as possible. From the repapering process to client communications and operational setup, the team's goal is to clear the path so you can stay focused on what matters most.

Investment strategies and technology. Through offerings like Model Wealth Portfolios, LPL fee-only advisors gain access to scalable, institutional-quality investment strategies that bring efficiency to their practice without sacrificing the personalized advice that defines a great client experience.

Full ownership of your advisory business. Perhaps most importantly, the fee-only RIA model at LPL means you own what you build. The client relationships, the business equity, and the future of the practice belong to you.

If you've been thinking about pursuing your own path to independence, contact us today to learn more.