posted on October 30th 2020 in Newsletters & WorthPointe News & Your Financial Advisor with 0 Comments /

Many financial advisors have their reasons for going solo. They want to maintain control of client relationships, be their own boss, and increase their earning potential. But somewhere along the way, the excitement wears off. Things get complicated. The tedious task of running your own business sinks in, and you begin to feel overwhelmed. 

Sound familiar? Here are four signs you might be drowning as an independent financial advisor and in need of a change. 

You Spend More Time On Business Operations Than Financial Planning

When you started your own firm, you didn’t plan on being a business manager. Your goal was to help people better their financial futures. But now you spend most of your time on compliance, accounting, marketing, and other administrative tasks. You’re not passionate about these tasks (they may even be outside of your expertise), but you do them anyway because you know they’re key to running a thriving business.

You Can’t Take On New Clients 

The daily tasks of running your own business are tedious. They can quickly fill your schedule and mental capacity—leaving you with little time to focus on financial planning and generating new business. 

Eventually, you reach a point where you can’t take on new clients (or you can’t take them on as quickly as you’d like). As a result, your earnings are capped. You can’t build as much wealth for you and your family as you thought. You begin to lose your passion and question why you’re even working this hard to begin with. 

You Can’t Take A Day Off Because There’s Too Much To Do 

Running your own firm was supposed to mean freedom, right? But now your to-do list is a mile long and you can’t even take a day off work without needing to check your email and make a few calls. This begs the question: Who would step in and help if you got sick or wanted to take an extended vacation? 

Work-life balance is important. If you can’t even take a day off because your schedule is too full, you’ll get burned out eventually (if you’re not already). 

You Don’t Have A Back-Up Plan

Have you thought about what would happen to your clients if you passed away or were suddenly no longer able to work? A recent FPA study reveals that 73% of advisors don’t have a succession plan in place. (1) Even worse, advisors who lead smaller firms are less likely to have a succession plan than their peers. If you haven’t planned this far ahead, you may be adding undue stress to your plate as you worry about what would happen to your clients if something happened to you. 

What Should You Do?

The truth is, freedom can be a burden for independent advisors. Eventually, you reach a crossroads where you’re at capacity. You don’t have the bandwidth to bring on new clients, serve existing ones, and run your business. You’re stuck. So, what should you do? One option is to join an ensemble firm.  

At WorthPointe, we’re not your typical ensemble firm. We foster a work environment where advisors can maintain their entrepreneurial freedom and lead a fulfilling work-life balance. You get the support you need to grow your book of clients, plus a team of qualified advisors ready to step in and help should you need it. Interested in learning more? Get started by reaching out to us at (800) 620-4232 or

About WorthPointe

WorthPointe is a financial planning firm based in San Diego, Austin, Dallas-Fort Worth, and Jackson, WY. We provide a home for CERTIFIED FINANCIAL PLANNER® so they can enjoy their independence while also focusing on what’s most important: people. Our centralized operations team takes the burden of running the business off your back, handling compliance and HR, bookkeeping, billing, and trading, so you can use your time to serve your clients. Our firm is at the forefront of the industry, providing you with support, connection, growth, and a healthy work/life balance so you can achieve all your professional and personal goals. Learn more about becoming a partner with WorthPointe and leaving your employee days behind here.

About Allison, CM & AA

Allison Blake joined WorthPointe in 2007, and she immediately made a positive impact on the business. A decade later, she is key to WorthPointe’s daily and long-term operations. With over two decades of broad-based experience in finance and business, Allison was the perfect person to help WorthPointe grow into the company that it is now.


(1) 73% of Advisors Don’t Have a Written Succession Plan: FPA

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