Digital Account Management
Managing client accounts electronically has become an increasingly important feature for clients. Digital account management can help breakaway advisors establish their new practice and streamline their operations, allowing them to focus more time on providing high-quality financial planning services and less on paperwork.
At Altruist, fully digital account opening and lightning fast ACATs mean you can open accounts in minutes.
Another important consideration when becoming a breakaway advisor is transferring your clients' assets from your current brokerage firm to your new practice. While bulk transfers can be effective for moving large numbers of client accounts, digital ACATS transfers can efficiently and securely transfer individual client accounts.
Automated Customer Account Transfer Service (ACATS) is a system that allows for the electronic transfer of client accounts between financial institutions. The ACATS process can be complex, but it's essential to establishing your new practice and ensuring your client's assets are transferred securely.
Practice Management Tools
Managing a successful financial planning practice requires careful planning, organization, and attention to detail. Practice management tools can help breakaway advisors streamline their operations and build a more efficient and profitable practice.
Using practice management tools, breakaway advisors can save time and focus on what they do best - providing high-quality financial planning services to their clients. Our integrated fee billing and reporting software is designed to be user-friendly and intuitive, allowing transitioning advisors to manage their practice and stay organized easily.
Portfolio Management Tools
Managing client portfolios is a critical component of any financial planning practice. Portfolio management tools can help breakaway advisors build diversified and profitable portfolios aligning with their client's financial goals and risk tolerance.
Our firm offers a range of portfolio management tools designed specifically for independent financial advisors. With a model marketplace that provides access to over 350 pre built models, commission-free fractional share trading, and intuitive portfolio customization software, it’s easy to deliver personalization at scale.
Starting An Independent Practice - The Bottom Line
Becoming a breakaway advisor can be a challenging and rewarding experience. By leaving a larger financial institution and establishing your practice, you can enjoy greater control over your practice, build a better client experience, and create a more personalized and flexible approach to financial planning.
We encourage you to explore your options and consider the benefits of starting an independent practice. If you're ready to leap, we're here to help. Contact us today to learn how we can support you on your journey to becoming a successful breakaway advisor.