Financial Advice Moves from the Office to Work from Home

Last Edited by: LPL Financial

Last Updated: March 28, 2022

Man working on laptop computer with child sitting nearby with tablet image

Just as firms are opening offices back up and expecting financial advisors to return, many of those same advisors may be considering what independence could look like for them.

According to a recent post on Financial Advisor, if advisors are less inclined to return to the office and deal with commutes, dress codes, and office distractions, now is the time to make the move to independence. The financial advice industry now offers more options for helping financial advisors successfully transition – and work from wherever they wish.

“There are more and more models coming out to cater to wirehouse advisors who want more independence, more autonomy and more control, but [who] don’t want to take on more of the business side responsibilities,” said Jeff Feldman, founder of Financial Recruitment Partner in Chicago.

No tie. No heels. No problem.

The answer has been to provide financial advisors more choices and flexibility, allowing them to choose a business model that best fits how they want to run their practice and serve their clients. Today, financial advisors can customize their entrepreneurship, with firms like LPL Financial offering a range of business model options. Whether they want to remain employee financial advisors, break away from the wirehouse but keep the dedicated collaboration and integrated services, or go fully independent, these models give advisors customization, control over their client relationships, end-to-end support, and often, more competitive payouts.

Feldman also noted, “Advisors are being extremely efficient and productive working from home and remotely and that has caused them to question giving up more than half of their revenue to their firm and looking at other channels where they can keep more of their income.

Technology is helping as well. The pandemic served as a catalyst for a tech evolution in the financial advice industry and several firms have put a premium on technology to ensure financial advisors have the tools to work efficiently, securely, and compliantly – from home.

Close to home. Closer to clients.

The valuable lesson of the pandemic for many has been the personal examination of what is truly important. Financial advisors are not immune from that examination, and working from home offers advisors the ability to flex schedules for their personal work/life balances. Equally important, that examination helps financial advisors better understand what their clients are striving toward — and making them even more valuable to those clients.

And that’s something to write home about.

For details about how LPL Financial can help you pursue independence, please explore our Business Model Options and connect with us about how we can help you with next steps.

LPL Financial is not affiliated with Jeff Feldman, or Financial Recruitment Partners.

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