The Relief of Breaking Away

LPL financial advisor Mike Ashworth shares why he wished he left the wirehouse for LPL even sooner

When financial advisors are considering transitioning their business to a new firm, many expect that the transition process can be difficult. And Mike Ashworth, managing director of Ashworth Financial Group, acknowledges it’s not easy—but that it’s definitely been worth it.

Since he’s broken away from the wirehouse to join LPL, he can also attest that another commonality holds true—that many who break away wishes they’d done it sooner. Looking back to 18 months ago when he was still with a wirehouse, he notices a marked difference now that the headaches, red tape, and bureaucracy have been removed. And he’s not the only one noticing the difference. “When your own children come up to you and make a comment that they notice a difference in your demeanor only after a couple of days into a transition, you know you've made the right move,” he said.

Business ownership, without the hassle

In early talks with LPL, Ashworth quickly realized that LPL’s Strategic Wealth Services platform was the fit he was looking for—allowing him the freedom to be a true business owner, but without the hassles that often come with running and operating a business. That said, he didn’t necessarily want to give up the control.

“If you’re a control freak like I am, outsourcing is not necessarily a comfort spot for you,” said Ashworth. “But it didn’t take long for me to get comfort with a lot of these things.” He notes that even with the parts of his business that are ‘outsourced’ to LPL, “it’s all been handled to my liking, so I’ve been very happy with that.”

The ability to do things much faster, thanks in part to technology, has also allowed Ashworth’s practice to “get to that next level,” he said. And he’s been able to do that without sacrificing the part of the job he loves—helping people. “I became a financial advisor because I wanted to help people,” he shared. “And what I enjoy most about being a financial advisor is the fact that I never feel like I’m coming to a job. It feels like a hobby to me.”

Opening up new doors, thanks to marketing

“The marketing team has been wonderful from my perspective,” said Ashworth. “And back at the wirehouse, we really weren’t able to do a lot of the things from a marketing perspective that we can do here. So it’s really been like opening up new doors to us that we’ve never had available.”

From newsletters to blogs to social media posts, Ashworth’s dedicated marketing consultant is helping him get the word out to his clients. Video messages are another channel that his clients have not only embraced, but now they’re asking for even more of them. One thing he knows he could not have done prior to coming to LPL.

Thriving through change

And through all this change, his business is thriving—and growing. “I've gotten more new clients in the last year than I probably had gotten the previous three or four years, before coming here. A lot of that's come through word of mouth and through client referrals, and some of it was the fact that people were just not going to deal with us when we were at the wirehouse.”

Ashworth and team are pleased with this growth, but at the end of the day, he’s there for the relationships with his clients. “I’ve had clients that I’ve dealt with now for more than 20 years, and they’re not only clients, but friends,” he shared. “The days that I come into the office and I’ve spent time on the phone with clients, I always go home so much happier.”

The views and opinions expressed by the LPL Financial Advisor may not be representative of the views of other Financial Advisors and are not indicative of future performance or success. Neither LPL Financial nor the LPL Financial Advisor can be held responsible for any direct or incidental loss incurred by applying any of the information offered.

Ashworth Financial Group and LPL Financial are separate entities.