Why Independent?
As independent advisors, we work directly for our clients and thus are able to consistently provide conflict-free and objective advice that’s in our clients’ best interest.
Independent advisors don’t represent brokerage companies, banks, insurance companies, or other financial corporations or institutions. Because independent advisors don’t answer to the aforementioned, the client’s interest can come first instead of being an afterthought. When an advisor represents a larger institution, there’s often a tension for the advisor to operate in a way that maximizes company profits to appease public shareholders, a board of directors, and company leadership. This can lead to advice that isn’t conflict free and not in your best interest.
All the advisors in the Kansas City Financial Advisors Network either work for or own independent firms.
Benefits of working with an independent advisor
Client focused, not corporate focused
As independent financial advisors, we serve and work solely for our clients rather than a corporation. Our loyalty and fiduciary duty is to our clients and our clients only.
Because we don’t represent anyone but our clients, we are free from the pressures and tension to put someone else’s interests before our clients’.
Access to a wide range of solutions
Since we’re not affiliated with corporate entities, we’re not limited a specific list of investments or insurance products that they allow. These large corporate entities tend to limit available solutions because they maintain their own list of company-branded products (or proprietary) that are expensive but encouraged.
Our advisors are free to recommend from a wider range of solutions since we’re independent advisors. This means our advisors are able to give better advice and our clients receive a better experience.
Dedicated service with less turnover
By working with an independent advisor and firm you can rest assured that you will have dedicated service BY THEM. Many large financial companies frequently rotate advisors or advisors or they simply leave for one reason or another (i.e. burnout).
Working with an independent advisor doesn’t mean that they won’t leave the industry at some point in their life but it does mean that you’ll most likely get a more consistent experience because you’ll be working directly with the same advisor (and team). This is a win for both advisor and client because a deeper level of trust leads to a deeper relationship which leads to a better client experience.
Creativity & flexibility
Financial advisors that belong to large corporate firms tend to be limited from the technology they use to their systems and processes. This is because the company has to ensure that:
all of their advisors are acting compliantly
the processes could generally be applied to everyone
everything works together “nicely”
Unfortunately, this means is sub-par client experience and a less customized solution.
Independent advisors and firms that are smaller in nature have to ability to be more creative and flexible in how they serve their clients. Because most independent advisors tend to have a “niche”, or a clearly defined ideal client, they’re able to create their entire business around how to provide world-class service to that niche. Rest assured that the technology, processes, meetings, communication, and financial planning will largely be customized because of the nature of being independent. Not only that but independent advisors are able to communicate, implement, and adapt quicker because of fewer barriers and resistances.
Long-term relationships
As independent advisors, we (and our teams) are the ones implementing all client requests, requirements, and recommendations and not distant and corporate service teams. Because of this, we naturally develop deeper relationships with our clients that tend to be long-term. This allows for us to continually gain a clearer understanding of your unique goals and the implications on your stewardship journey.