Ep 79: What It Really Takes to Go Independent as an Advisor

Episode 79: What It Really Takes to Go Independent as an Advisor

Guest: Carolyn Armitage

Overview

Welcome to the Financial Advisors Want to Know Podcast! I’m Catherine Tindall, CPA with Dominion Enterprise Services, where we help financial advisors navigate income tax planning and compliance.

Today’s guest is Carolyn Armitage, a seasoned wealth management executive, consultant, and former advisor who specializes in helping financial professionals successfully transition to independence. With experience leading and optimizing large and small firms, she brings unique insight into what it really takes to go independent—and the common pitfalls to avoid.

Key Takeaways

✅ Fear of the Unknown is the Top Obstacle – Many advisors hesitate to go independent due to uncertainty. Success requires embracing change and developing confidence through planning and support.

✅ Turnkey Solutions Ease the Transition – For advisors seeking independence with structure, turnkey RIA models offer a smoother, lower-risk path with built-in systems and support.

✅ Stock Swaps Offer Tax-Efficient Growth – Using a stock swap in a merger or acquisition can defer taxes and grow firm value, offering advisors strategic flexibility when planning an exit.

✅ Independence Comes with Operational Tradeoffs – Running your own firm can create administrative burdens. Advisors close to retirement may prefer models that minimize day-to-day management.

✅ RIA Circle Builds Peer Support & Insight – Carolyn’s platform, RIA Circle, offers peer learning, resources, and connection for advisors navigating the challenges of independence.

Connect with Carolyn Armitage

🌐 Wealth Management Consulting
🌐 RIA Circle
🔗 LinkedIn

Connect with Catherine Tindall

🔗 LinkedIn
📅 Sign Up for the Newsletter
📧 Email: admin@dominiones.com
🌐 Dominion Enterprise Services

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