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The world of financial advising can be challenging, especially for those running their own local practice. Operating costs are on the rise, clients want long-term security and support, the market is highly competitive, and standing out from the crowd is not always easy. This is where joining a brokerage can make a big difference.

Apart from independence, ease of business and seamless practice management, here are three more reasons why it makes sense for independent financial advisers.

Access high-quality marketing and communication support

Marketing is a critical component of any successful financial advising practice. By joining a brokerage that has solid marketing capabilities in place, advisers gain access to powerful national branding and co-branding opportunities.

However, for those advisers who want to maintain their own brand identity, it’s important to select a brokerage that supports your independence. For example, GrowthHouse provides marketing toolkits and CRM software to help advisers create awareness of their personal brand within the greater brokerage national brand. It also offers monthly newsletters to keep clients informed and engaged. All these services can help an adviser build their brand and attract new clients.

Enjoy contracting flexibility

Contracting flexibility is essential for independent financial advisers. Therefore, a brokerage should hold multiple product licences, giving you the ability to operate independently. This means you can run your own practice within the larger company structure, benefiting from the support and resources provided by the brokerage. If you look for a brokerage like GrowthHouse that also offers tiered commission structures, this will help increase your earnings potential.

You can enjoy the best of both worlds: both the flexibility of contracting but also a sense of community from belonging to a team with a fun work environment where support is easily accessible.

Experience peace of mind with thoughtful succession planning

Succession planning is something that many financial advisers do not think about until it is too late. However, it is an essential part of any successful practice. Being part of a brokerage that prioritises succession planning can assist you in developing an exit strategy that will give you peace of mind that the business you’ve built will be taken care of in the future.

This support should include well-thought-out succession plans on death, retirement, or disability. GrowthHouse also provides guidance on how you can increase the value of succession through book enhancements and a robust, objective business valuation tool.

Ultimately, joining is a great opportunity for independent financial advisers who are looking for marketing and communication support, contracting flexibility, and succession planning and can be just the solution an IFA needs to see their business thrive.